- Joined
- Oct 23, 2007
- Messages
- 241
The recently built 60 Unit Condominium complex at 95 Barrie Road, Orillia is for sale at $6950000. The cap rate is 6.1%. The seller is agreeing to complete to condo conversion. There is an existing CMHC first mortgage of $4491187 with an interest rate of 4.805%, and the mortgage can be renegotiated. The upside is that this building can be converted to condominiums in 10 years. Mean while the income will more that support the expenses. This is a tremendous opportunity for cash flow & equity appreciation! The capital required to close would be:
Down Payment: $2458813
Closing costs: $191250
Reserve funds: $66178
Total =$2716241
THERE HAS BEEN A FURTHER PRICE REDUCTION. THE VENDOR IS, SHALL WE SAY, MOTIVATED!
And there is another reason this is a tremendous opportunity...
You get to invest with me!
Jules Mckenzie
Ontario REIN Member
Cell # (705) 330-1879
Email: [email protected]
Down Payment: $2458813
Closing costs: $191250
Reserve funds: $66178
Total =$2716241
THERE HAS BEEN A FURTHER PRICE REDUCTION. THE VENDOR IS, SHALL WE SAY, MOTIVATED!
And there is another reason this is a tremendous opportunity...
You get to invest with me!
Jules Mckenzie
Ontario REIN Member
Cell # (705) 330-1879
Email: [email protected]