About 313 Midland Avenue

Steps from the shore of Georgian Bay in Midland's bustling downtown sits this 11 unit, fully tenanted multi-res building. This 3 storey structure features an assortment of layouts and updated spaces, with 4 units on each of the first two floors, and 3 units on the third floor. High historical demand for these dwellings suggests a prospective investor may expect stable income, at a cap rate of 6.5%. When properly configured, the parking area allows for a minimum of 8-10 vehicles. The basement contains multiple storage units, a laundry area, a modest office, utility rooms, and a workshop which could be converted for other applications (including residential). Most units enjoy forced air heat, except two which use electric baseboard. Tenants run their own air conditioning units in warmed months. Reach out today for more information on this excellent investment opportunity *Listing agent is related to the seller (id:6289)

Features of 313 Midland Avenue

Listing # 40615623
Price $1,340,000
Type Multi-family
Sub-Type Freehold
Status Active

Community Information

Address 313 Midland Avenue
Subdivision MD01 - East of King Street
City Midland
Province Ontario
Postal Code L4R3K5

Amenities

Amenities Marina, Public Transit, Schools
Features Laundry- Coin operated
Parking Spaces 8
Is Waterfront No
Has Pool No

Interior

Fireplace No
# of Stories 3
Has Basement Yes

Exterior

Exterior Concrete, Metal, Vinyl siding
Construction Concrete block, Concrete Walls
Foundation Block

Listing Details

OfficeSotheby's International Realty Canada, Brokerage (A)

Listing Map