$1,300,000
Available - For Sale
Listing ID: X12436997
182 12th Street , Hanover, N4N 1T8, Grey County
| 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. |
| Price | $1,300,000 |
| Taxes: | $5947.00 |
| Assessment Year: | 2024 |
| Occupancy: | Tenant |
| Address: | 182 12th Street , Hanover, N4N 1T8, Grey County |
| Directions/Cross Streets: | 12th St. & 6th Ave. |
| Rooms: | 19 |
| Rooms +: | 9 |
| Bedrooms: | 6 |
| Bedrooms +: | 2 |
| Family Room: | F |
| Basement: | Finished, Full |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Second |
| Washroom Type 2 | 4 | Main |
| Washroom Type 3 | 3 | Lower |
| Washroom Type 4 | 4 | Second |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | Second |
| Washroom Type 7 | 4 | Main |
| Washroom Type 8 | 3 | Lower |
| Washroom Type 9 | 4 | Second |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Multiplex |
| Style: | 3-Storey |
| Exterior: | Brick |
| Garage Type: | None |
| Drive Parking Spaces: | 9 |
| Pool: | None |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 2500-3000 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Other |
| Central Air Conditioning: | Window Unit |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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| Royal LePage RCR Realty |
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At a Glance:
| Type: | Freehold - Multiplex |
| Area: | Grey County |
| Municipality: | Hanover |
| Neighbourhood: | Hanover |
| Style: | 3-Storey |
| Approximate Age: | 100+ |
| Tax: | $5,947 |
| Beds: | 6+2 |
| Baths: | 6 |
| Fireplace: | N |
| Pool: | None |
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