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$ 3,200,000
Est. payment | /mo
12,000 SqFt
$ 3,200,000
Est. payment | /mo
12,000 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 12,000 sqft
Price per Sqft $266
Subdivision City Centre
MLS® Listing ID S11942424
Originating Board Toronto Regional Real Estate Board
Property Description
Own a piece of Barrie's vibrant downtown core with this exceptional investment opportunity! Located in the heart of downtown Barrie, 31 Bayfield Street presents a rare chance to acquire a well-established rooming house with a thriving Irish pub on the ground floor. This property offers a unique blend of stable income, significant cash flow, and long-term appreciation potential.This rooming house boasts 34 units and generates a robust net cash flow of $248,409.57 after expenses, providing immediate returns on your investment. The established Irish pub further enhances the property's income potential. This property provides essential housing in Barrie, addressing a critical need within the community. Investing here means contributing to the local economy and making a positive social impact. As rents continue to rise in Barrie's desirable downtown core, this property is poised for substantial appreciation in value. This is a legacy investment, capable of generating steady income for generations to come. Recognizing the unique financing considerations associated with rooming houses, the owner is offering vendor take-back financing of up to $1,000,000 in second position. This exceptional opportunity significantly eases the acquisition process and demonstrates the seller's confidence in the property's performance. Investment Highlights: Strong Cash Flow: The impressive net cash flow provides immediate returns and a solid foundation for future growth.Strategic Location: Downtown Barrie is a hub of activity, ensuring consistent demand for both residential and commercial spaces. Community Impact: This property plays a vital role in providing housing solutions within the community.This is not just an investment; it's an opportunity to secure a stable income stream, contribute to the community, and build long-term wealth. Don't miss out on this rare chance to own a prime piece of downtown Barrie. (id:24570)
Location
Province ON
Interior
Heating Radiant heat
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
Listed by IPRO REALTY LTD.