27 Dunlop STREET

Description

27 Dunlop Street East is an iconic historical building situated just north of downtown, the courthouse with a playground and green space across the street. There are plenty of elementary schools including the academy school for sports/dance. The property features 10 suites of varying sizes, including 1 bachelor unit, 8 one-bedroom units, and 1 two-bedroom unit. There are 10 electrified parking space at the back of the property with a garage that could work as the maintenance building. The main floor street facing unit could be converted back into a 2 bedroom suite. While the building has been consistently maintained, some suites may benefit from cosmetic updates as tenants turn over, providing an excellent opportunity to increase rental income and overall value. Key features include coin-operated laundry for added revenue, additional tenant storage, a ground maintenance shed, security cameras, an upgraded boiler system, updated unit windows, fiber optic wireless internet, fire alarm system, emergency flood lighting, individual electrical panels in each unit, water heater, water softener, Appliances for each unit. a low-maintenance tin roof, and newly installed eaves and downspouts. All measurements and projects are approximate and should be verified by interested parties.Gross Rental Income: $94,335 Expenses: $43,872 NOI (Net Operating Income): $50,463 Cap Rate = $50,463 / $690,000 = 7.31% Cash Flow = $50,463 – $38,136 = $12,327/year ROI = $12,327 / $172,500 = 7.14% GRM = $690,000 / $94,335 = 7.31 DSCR = 1.32

Listing courtesy of Core Real Estate Inc.