London & Area Real Estate Listings
3071 Mosley Street
Wasaga Beach, ON, L9Z 1W7
EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area's high demand for residential spaces. With a solid cap rate of 5.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property's financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30' frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you're an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision.
Property Specification
MLS Number | 40566270 |
Property Type | Residential Income |
Building Area | 10,000 Square Feet |
Total Bedrooms | 15 |
Basement | None |
Above Grade Sqf | 10,000 Square Feet |
Cooling | None |
Heating | Baseboard, Electric |
Lot Size Area | 0 Acres |
Lot Size | 19,036 Sq.ft. |
Lot Size Source | MPAC |
Parking Spaces | 12 |
Sewage | Sewer (Municipal) |
Year Built | 1960 |
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Disclaimer
These particulars are intended to give a fair description of the property but their accuracy cannot be guaranteed, and they do not constitute an offer of contract. Intending purchasers must rely on their own inspection of the property. None of the above appliances/services have been tested by ourselves. We recommend purchasers arrange for a qualified person to check all appliances/services before legal commitment.
Listing courtesy of: Re/Max Hallmark Peggy Hill Group Realty Brokerage