- Joined
- Aug 30, 2007
- Messages
- 38
Attention real estate investors! Are you looking for an attractively priced multi-unit investment opportunity? We have a fully rented 16 unit apartment complex in Charlottetown, Prince Edward Island for $580,000, that`s just $ 36,250 per door! This property includes 13 recently renovated units, new roofing and individual meters for each apartment. It is right next to the Charlottetown airport, and is less than a 10 minute drive to downtown.
Recently verified annual gross rents equal $118,271. Vendor supplied annual operating expenses include electricity/heat @ $22,894, cable @ $2,045, internet @ $687, water & sewer @ $2,029 and property taxes @ $5,646. According to municipal sources waste fees are $3,200 and for non-PEI residents 2010 property taxes would be $8,896 for this property. Seller financing is available ($84,000 @ 4% fixed interest compounded semi-annually, amortized over 25 years, 5 year term). Property management costs in the area are typically 5% - 8% of gross income. Contacts for property management, legal, inspection, etc. are available on request.
If you are interested please phone 780-729-4357 or send an email to [email protected]. Time is of the essence.
Recently verified annual gross rents equal $118,271. Vendor supplied annual operating expenses include electricity/heat @ $22,894, cable @ $2,045, internet @ $687, water & sewer @ $2,029 and property taxes @ $5,646. According to municipal sources waste fees are $3,200 and for non-PEI residents 2010 property taxes would be $8,896 for this property. Seller financing is available ($84,000 @ 4% fixed interest compounded semi-annually, amortized over 25 years, 5 year term). Property management costs in the area are typically 5% - 8% of gross income. Contacts for property management, legal, inspection, etc. are available on request.
If you are interested please phone 780-729-4357 or send an email to [email protected]. Time is of the essence.