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313 Midland Avenue Midland, Ontario L4R 3K5

6731.5 sqft
Forced Air

$1,340,000

Steps from the shore of Georgian Bay in Midland's bustling downtown sits this 11 unit, fully tenanted multi-res building. This 3 storey structure features an assortment of layouts and updated spaces, with 4 units on each of the first two floors, and 3 units on the third floor. High historical demand for these dwellings suggests a prospective investor may expect stable income, at a cap rate of 6.5%. When properly configured, the parking area allows for a minimum of 8-10 vehicles. The basement contains multiple storage units, a laundry area, a modest office, utility rooms, and a workshop which could be converted for other applications (including residential). Most units enjoy forced air heat, except two which use electric baseboard. Tenants run their own air conditioning units in warmed months. Reach out today for more information on this excellent investment opportunity *Listing agent is related to the seller (id:23067)

Property Details

MLS® Number 40615623
Property Type Multi-family
Amenities Near By Marina, Public Transit, Schools
Features Laundry- Coin Operated
Parking Space Total 8

Building

Basement Development Partially Finished
Basement Type Full (partially Finished)
Construction Material Concrete Block, Concrete Walls
Exterior Finish Concrete, Metal, Vinyl Siding
Foundation Type Block
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 3
Size Interior 6731.5 Sqft
Utility Water Municipal Water

Land

Acreage No
Land Amenities Marina, Public Transit, Schools
Sewer Municipal Sewage System
Size Depth 175 Ft
Size Frontage 63 Ft
Size Total Text Under 1/2 Acre
Zoning Description Dc-f2

https://www.realtor.ca/real-estate/27130412/313-midland-avenue-midland

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Michael Decarli
Salesperson

(416) 996-2075
(705) 416-1495

Sotheby's International Realty Canada, Brokerage (A)
243 Hurontario Street
Collingwood, Ontario L9Y 2M1

(705) 416-1499
(705) 416-1495
sothebysrealty.ca/

Meredith Cudney
Salesperson

(705) 446-8436
(705) 416-1495

Sotheby's International Realty Canada, Brokerage (Collingwood)
243 Hurontario St
Collingwood, Ontario L9Y 2M1

(705) 416-1499
(705) 416-1495