Allan-John Boulanger

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28 COLDWATER ROAD W, Severn, Ontario

$1,424,900

6,000 Square Feet

Large 14-unit mixed-use building featuring 12 residential units and 2 commercial spaces, both leased to a well-established local business that has operated from the property for nearly 5 years. With a 57% gap to market rents, this asset offers substantial income growth potential at a 5.8% cap rate and just $100,000 per unit.The building is in solid condition with a 15-year-old metal roof in excellent shape. Recent capital upgrades include spray foam insulation and new windows along the rear and east-facing walls, along with structural reinforcement. One residential unit is fully gutted and ready for finishing, offering an easy value-add opportunity. Most tenants pay their own hydro; units are heated with electric baseboards, and the common areas are serviced by a central furnace. All hot water tanks have been replaced in recent years, reducing near-term capital needs. This property is part of a broader portfolio comprising 22 additional residential and commercial units, all located on the same block, perfect for investors seeking scale, efficiency, and upside in a growing small-town setting. (id:23309)

Listing ID: S12246051
Property Type: Multi-family

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Details

Transaction: For sale
Zoning Description: C2+EP

Building

Cooling: Partially air conditioned
Fireplace Present: False
Heating: Baseboard heaters
Size Interior: 6000 sqft
Type: Multi-Family
Utility Water: Municipal water

Land

Size Frontage: 66 ft ,11 in
Size Irregular: 66.95 FT

Listing provided by EXP REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 28 COLDWATER ROAD W in Severn Ontario. It was last modified on June 26th, 2025. Contact Allan-John Boulanger to schedule a viewing or to discover other Severn real estate for sale.

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