ON > Hanover > Hanover
Hanover, ON N4N 1T8,182 12th ST
Hanover, ON N4N 1T8,182 12th ST
Hanover, ON N4N 1T8,182 12th ST
Hanover, ON N4N 1T8,182 12th ST
Hanover, ON N4N 1T8,182 12th ST
Hanover, ON N4N 1T8,182 12th ST
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Claudio Castro

Claudio Castro

+1(416) 937-6109
$ 1,300,000
Est. payment | /mo

8 Beds

6 Baths

Save
$ 1,300,000
Est. payment | /mo
Save

8 Beds

6 Baths

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2500-3000

Subdivision Hanover

MLS Listing ID X12436997

Style 3-Storey

Bedrooms 8

Annual Tax Amount $5,947

Tax Year 2024

Property Sub-Type Multiplex

Property Description

Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment.

Location

Province ON

County Grey County

Community Hanover

Area Grey County

Zoning R5-31

Rooms

Family Room No

Basement Finished, Full

Kitchen 6

Separate Den/Office 2

Interior

Interior Features Floor Drain, On Demand Water Heater, Carpet Free, Separate Hydro Meter, Separate Heating Controls, Water Heater Owned, Water Meter, Water Treatment

Cooling Window Unit(s)

Inclusions Fridges & Stoves, 2 wardrobes in Unit 6

Exterior

Pool None

Roof Type Metal

Lot Frontage 76.5

Lot Depth 132.0

Total Parking Spaces 9

Building

Building Age 100+

Foundation Stone

Others

Senior Community No

ParcelsYN No

Listed by Royal LePage RCR Realty
Claudio Castro

LSV GROUP

Phone

+1(416) 937-6109

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182 12th ST