Somerset Street/Cooper Excellent Income producing investment property with Great Development Potential = Zoned TM [2214] which allows 6-Storey Development with Multiple Use. Enjoy a good income producing investment (approx. 4.6 Cap Rate when fully rented) while planning your future development of your own perfect income property investment specific to your investment portfolio needs. Located in one of the main city corridors - walking distance to LRT Station, minutes from Downtown, Dows Lake & Little Italy. Duplex is undergoing Major Renovations (with permits) inside & out = one 3-bedroom unit & one large 2-bedroom unit each unit will include 2 full bathrooms, each having it's own furnace, laundry & hydro meter with an estimated potential rent of $2,900 per month (top 3-bedroom unit is fully completed & presently occupied by one of the owner's and lower unit is semi finished). Property features 15 parking spaces. Each of the 3 attached Townhomes have undergone major renovations & each Townhome includes 4-bedrooms, 2 full bathrooms, & In-Unit Laundry. When fully occupied Estimated Gross Income is $198,600 - Estimated Gross Expenses are $32,491.66 - Estimated New Income before mortgage costs are $166,108,34. (id:27476)
