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55 Willow St

10 Unit Apartment Building $1,600,000 CAD ($160,000 CAD/Unit) 5.60% Cap Rate Paris, ON N3L 2K8

EXECUTIVE SUMMARY

Charming 10-Unit Apartment Building built in 1870 offering spacious 1 bedroom apartments with storage lockers and parking for 10+ vehicles. Nestled in one of Paris’ most vibrant neighborhoods, this exceptional building offers a terrific investment opportunity for savvy investors looking to expand your portfolio in a growing city. Original architectural details including high ceilings and stately trimwork is blended with modern updates to demonstrate the elevated market rent the units will garner with some sweat equity. Two suites feature private exterior access and can be considered premium ground floor apartments with proper upgrade. Shared coin operated laundry available on site for additional income. Lots of potential for income growth with further improvements to original condition units. Separate hydro meters. The close proximity to Paris' budding downtown core with restaurants and shopping offers a desirable area to consistently attract quality tenants. Looking for long term potential? A new high density residential development is occurring on neighbouring property to the south with additional low density subdivisions being constructed around Paris. Recent survey and planning report can be provided. Do not go direct to building.

PROPERTY FACTS

Price $1,600,000 CAD
Price Per Unit $160,000 CAD
Sale Type Investment
Cap Rate 5.60%
No. Units 10
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Building Size 5,000 SF
Average Occupancy 90%
No. Stories 2
Year Built 1870

UNIT AMENITIES

  • Air Conditioning
  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

SITE AMENITIES

  • Controlled Access
  • Laundry Facilities
  • Tenant Controlled HVAC
  • Recycling
  • Smoke Free
  • Storage Space
  • Smoke Detector

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 10 - 680
  • Listing ID: 33663005

  • Date on Market: 2024-10-28

  • Last Updated:

  • Address: 55 Willow St, Paris, ON N3L 2K8

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