181 PRESTON STREET, Timmins (TS - SW), Ontario P4N3N4

181 PRESTON STREET
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This legal four-plex is located in a strong, desirable neighborhood directly beside the newly constructed Francophone Health Centre, making it an ideal long-term investment with stable tenant demand. The property is fully income producing and offers a solid revenue stream with excellent upside. The building consists of four self-contained units with a strong rental mix. The current rental income totals $4,850 per month or $58,200 annually. The main unit at 181 Preston rents for $2,000 per month plus utilities. Unit A at 147 Middleton rents for $850 per month plus utilities. Unit C at 147 Middleton rents for $880 per month with the owner paying hydro. Unit D at 147 Middleton rents for $1,120 per month plus hydro. Operating costs are well managed. Water and sewer are approximately $4,824 annually, property taxes are $5,592 per year, Reliance hot water rental is $759.24 per year, insurance is $2,959.20 annually, and hydro for one unit is approximately $1,260 per year, for total operating expenses of $16,654.44 annually. This produces a net operating income of approximately $41,545.56 per year. Based on an asking price of $399,900, the property delivers an approximate 10.4% cap rate, making this an exceptionally strong cash-flowing investment. This is a rare opportunity to acquire a legal four-plex in a prime location with proven income, excellent tenant demand, and outstanding investment fundamentals. MPAC 324, Total Sq.Footage 2200, Hydro Tenants, Heat $1140 /12mths, Water-Sewer $4356 / year.

Property Specifications

Comprehensive breakdown of features and details.

Interior Details

BasementFinished, N/A
Bathrooms Total5
Bedrooms Total6
CoolingCentral air conditioning
FireplaceTrue
HeatingForced air, Natural gas

Building & Exterior

Building FeaturesFireplace(s)
Exterior FeaturesStucco
Foundation DetailsConcrete
Parking FeaturesNo Garage
Stories2.0

Land & Location

City RegionTS - SW
Frontage Length52.1 feet
Lot Size Dimensions52.9 x 80.9 FT

Utilities & Services

UtilitiesSewer, Electricity, Cable

Listing & Financials

Listing OfficeREALTY NETWORKS INC.
Originating System NameTimmins, Cochrane & Timiskaming District Association of REALTORS®

Other Specifications

CountryCanada
Parking Total6

For Sale

$399,900

181 PRESTON STREET, Timmins (TS - SW), Ontario P4N3N4

Beds

6

Baths

5

Living Area

-

Lot Size

-

Property Type

Fourplex

Year Built

-

Listing IDT12700192

Location & Map

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