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5 Devinwood Avenue Walkerton, Ontario N0V 2G0

31 Bedroom 31 Bathroom 12500
Central Air Conditioning Heat Pump Acreage

$15,000,000

31 unit, new concrete luxury, elevator equipped apartment building in the Bruce Power catchment area. A fast growing desirable area in southwest Ontario. All units are 2 bedroom, 2 bath with 5 appliances. Walkerton is a high demand area for upscale units for business relocation and retirement. The sale also includes approximately 1.6 acres of land. Site planned for an additional 31 unit building. The net income calculated for the single 31 unit building is returning a 5% cap rate. Constructing the second 31 unit building on the site, will increase cap rate to approximately 6%. Completion expected spring to summer of 2023. Being constructed by the developer. Proforma uses expected rents and expenses as recorded on new build comparable buildings in this area. Proforma net income $749,570.00. (id:51004)

Property Details

MLS® Number 40326862
Property Type Multi-family
Amenities Near By Golf Nearby, Hospital, Schools, Shopping
Community Features School Bus
Features Golf Course/parkland

Building

Bathroom Total 31
Bedrooms Total 31
Appliances Water Meter
Basement Type None
Cooling Type Central Air Conditioning
Fire Protection Smoke Detectors
Heating Type Heat Pump
Stories Total 4
Size Interior 12500
Utility Water Municipal Water

Land

Acreage Yes
Land Amenities Golf Nearby, Hospital, Schools, Shopping
Sewer Municipal Sewage System
Size Frontage 297 Ft
Size Irregular 1.6
Size Total 1.6 Ac|1/2 - 1.99 Acres
Size Total Text 1.6 Ac|1/2 - 1.99 Acres
Zoning Description R3

Utilities

Cable Available
Electricity Available
Natural Gas Available
Telephone Available

https://www.realtor.ca/real-estate/24908974/5-devinwood-avenue-walkerton


Bruce Brown
Salesperson

(705) 726-3871
(705) 726-8260
Ed Lowe Limited Brokerage
190 Dunlop Street East
Barrie, Ontario L4M 1B3

(705) 726-3871
(705) 726-8260
www.edlowerealestate.com

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