The Ross Report

101 Mill St. Orangeville.  $229,900

This building is a little different.  I like to refer to it as the “Sugar Cube”.  Its set up as a 2 apartment building, with 3 bedrooms on both the upper and lower levels.  Each unit features their very own laundry, and parking.  It’s located walking distance to Princess Margaret Public School, and has 2 separate hydro meters.  Its a perfect building to start your real estate investment portfolio.  It’s economic, and a great layout for tenants.

The building is in good shape, but needs a new flat roof (quotes range from $5,500 to $10,000).  It is not retrofit, meaning it would need an inspection from a hydro authority and fire inspection.

Here are the numbers: (these numbers are just a guideline.  Please consult your accountant before investing.)

For more information, or to view this property, please call me at 519-938-2225.  I would be happy to set up an appointment to meet with you, and go over these numbers.

 

 

UPDATE March 27/2009:

A client of mine managed to purchase this property for a great price.  He looks forward to starting with this investment, and buying further buildings in the near future.