313 Midland Avenue

Midland, ON

MLS® 40615172

For sale

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
Property Details
Parking Total
Property Type
Community Features
Irregular Lot
Ample Parking
City Lot
Basement Type
Crawl Space
Building Type
Building and Land
Construction Materials
Metal/Steel Siding
Vinyl Siding
Security Features
Security System
Sewer (Municipal)
Single Phase
Water Source
Building Amenities
High Speed Internet
Lot Depth
175.06 ft
Lot Front
63.23 ft
Lot Size Area
< 0.5 Acres
Walk Score
Realty Executives On The Bay Inc. Brokerage
Forest Hill Real Estate Inc. Brokerage (Unit A)

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Listing ID: 151789248
Last Updated: 2024-07-08 13:28:13