479 Eldon Road

Property facts

Price

$2,750,000

Type

multiplex

Bedrooms

12

Bathrooms

15

MLS®

X13491558

Status

active

Brokerage

KELLER WILLIAMS REFERRED URBAN REALTY

About this home

Excellent investment opportunity featuring a fully tenanted, 15-unit apartment building on just under 3 acres together with a 15.9-acre vacant land parcel with a concept plan for 10 residential lots located in the Hamlet of Little Britain near Lindsay, north of Port Perry. Offered for sale together, these unique properties combine strong in-place cash flow with future development potential. The 15-unit apartment building consists of 12 one-bedroom units and 3 studio units and currently generates approximately $186,000 in annual gross income and approximately $122,000 in NOI. Fourteen of the fifteen units are separately metered. Six units have been renovated, providing investors with an opportunity for future rental growth through the renovation of the remaining units. New roof installed in 2023. Included in the offering is an approximately 15.9-acre vacant land parcel with a completed concept plan for 10 residential lots, offering additional long-term potential for investors, developers, or land bankers. Rarely does a property offer the combination of stable income, value-add potential, and future development opportunities in one package.

Location