$6,450,000
Available - For Sale
Listing ID: X13778962
322 Honeyborne Street , Mississippi Mills, K0A 1A0, Lanark
| Attention Investors! A purpose-built 24-unit apartment building completed in 2020, located in the growing community of Almonte, approximately 20 minutes west of Kanata and 40 minutes from downtown Ottawa. This modern three-storey asset offers a practical unit mix comprising 17 two-bedroom, 2 one-bedroom and 5 three-bedroom units, along with elevator service. Units range from approximately 650 to 955 sq. ft. and feature efficient, open-concept layouts, laminate flooring, a fridge, stove, dishwasher, ERV and window coverings. Coinamatic laundry facilities are conveniently located on every floor. Designed for efficient operation and management, tenants pay hydro while the landlord pays heat and water. The property provides approximately 30 tenant parking spaces, 5 visitor spaces and additional street parking. Other features include controlled entry, an intercom and camera-monitored common areas. Completed and first occupied in 2020, the building is not subject to Ontario's annual rent-increase guideline. Ideally situated within walking distance of shopping, restaurants, parks and essential services, the property benefits from its location in Mississippi Mills, which experienced 12% population growth between 2016 and 2021, as well as convenient access to Kanata and Ottawa. A modern multifamily investment offering strong fundamentals, durable construction and long-term income potential. |
| Price | $6,450,000 |
| Taxes: | $51421.56 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 322 Honeyborne Street , Mississippi Mills, K0A 1A0, Lanark |
| Postal Code: | K0A 1A0 |
| Province/State: | Lanark |
| Legal Description: | PART BLOCK 2, PLAN 27M80, PART 1 ON 27R1 |
| Directions/Cross Streets: | Conc 11A and Honeyborne |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Apartment |
| Use: | Apts - Over 20 Units |
| Building Percentage: | T |
| Total Area: | 34207.67 |
| Total Area Code: | Square Feet |
| Net Income Before Debt: | $312366 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | No |
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| EXP REALTY |
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Bikramjit Sharma
Broker
Dir:
647-295-0028
Bus:
905 456 9090
Fax:
905-456-9091
| Virtual Tour | Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Lanark |
| Municipality: | Mississippi Mills |
| Neighbourhood: | 911 - Almonte |
| Tax: | $51,421.56 |
| Fireplace: | N |
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