182 12TH STREET
Hanover, Ontario
$1,300,000.00
8
6
76.5 x 132 FT
About This Property:
Maximize your portfolio's potential with this exceptional 6-plex, featuring a strong 6.38% CAP rate with further upside to push the CAP rate above 7.0%. This property has R5 zoning, offering the unique potential for additional unit development. The current configuration includes four one-bedroom and two two-bedroom units, projecting a robust yearly income of $100,620.00 against low 2024 operating expenses of $17,686.12. A breakdown of these financials can be obtained by your REALTOR. Formerly the Hanover Lutheran Church, the building retains historic charm alongside major modern upgrades, including a 2022 on-demand hot water system (domestic and in-floor heating), siding, an outside stairway, updated appliances, electronic deadbolts, and cosmetic upgrades. With nine parking spaces and a split utility structure (landlord pays water/sewer, tenants pay hydro; main floor and second level units pay gas heat, landlord pays in-floor gas heat in two level units), this is a turn-key investment.
