188-192 RAGLAN STREET S , Renfrew

$289,900 / MLS® Listing #:1174913

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DIAMOND in the rough... Flip property- CASH FLOW WHILE YOU RENOVATE! ADD VALUE and refinance or sell for a profit! Selling for less than $100 a sq ft! Gross income starting Mar 1: $42,000/yr (upstairs office is vacant - can be converted to residential apartments) - Expenses; $13,804/yr. TOTAL CURRENT NOI: $28,196/yr. BUT... the upstairs is vacant. Do you want to use it for an OFFICE? Or fix and flip OR fix and hold as Residential apartments? Details: Two retail spaces ($2000 and $1500) and Office space upstairs (vacant - est. $1700/mo) can be converted to apartments (Seller has engineer drawings for a layout of 3 apartments + office space, avail upon request). Approx 4500 sq ft total (2250 each floor). If you keep as office upstairs and rent it at that rate the Projected NOI is $48,596/yr. IF you make it apartments, it could be $60,008/yr (projected). EITHER WAY... This is can be your cash cow! Currently cash flowing without upstairs rented... call now! (id:10452)

Property Details

Property Type Retail
Square Feet
Maintenance N/A
Days On Our Website 199
Basement
Kitchens
Lot Dimensions 51.41 ft X 119.58 ft (Irregular Lot)
Pool N/A
Area Renfrew
Air Conditioning N/A
Heating
Exterior
Parking Spaces 4
Sewers N/A
Water N/A

Listing Office: RE/MAX HALLMARK REALTY GROUP



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