320 Gleeson AVE Active Save Request In-Person Tour Request Virtual Tour
Cornwall,ON K6J 1E3
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 717 - Cornwall
MLS Listing ID X12457460
Annual Tax Amount $16,714
Tax Year 2025
Property Sub-Type Investment
Property Description
MOTIVATED SELLER !!! 9 PLEX FOR SALE IN THE GROWING CORNWALL RENTAL MARKET!!! NINE UNIT APARTMENT BUILDING, UPDATED AND SPACIOUS UNITS (APPROXIMATELY 1000 SQUARE FEET) IN A NICE AREA OF THE CITY. GOOD PARKING AND EXTRA INCOME FROM COIN OPERATED LAUNDRY ROOM. THE BUILDING SHOWS VERY WELL WITH LOTS OF PARKING IN FRONT OF THE BUILDING. MIN. 24 HOUR NOTICE FOR SHOWINGS.GROSS AND NET INCOME IS BASED ON FULLY OCCUPANCY Total of 8-two bedrm units plus 1-one bedrm unit. Upgrades done last 2 years:- Full New Roof- Renovated Unit 2,4,6,8- Unit 6 Extensive Renovation- Unit 1 Bathroom Overhaul and full Renovation of the unit. Painting and flooring updated in some units too- Newly Painted common areas in full building- Upgraded all electric panels from fuses to break panels.Building Sewer Lateral Replacement - Brant New.Outdoor shed Removal.Front entrance is repainted..Currently close to a 6 % cap rate (5.9 % cap rate)with some units way below market rent levels! Tons of potential! One of the Seller is Registered Real Estate Salesperson.
Location
State ON
County Stormont, Dundas And Glengarry
Community 717 - Cornwall
Area Stormont, Dundas And Glengarry
Interior
Cooling No
Exterior
Utilities Available Available
Lot Frontage 114.6
Lot Depth 103.2
Others
ParcelsYN No