$1,771,000 | Rural Middleton Norfolk Multi-Family for Sale at 285 Highway 3 Norfolk

Very well-maintained 7-unit apartment building generating a strong 7.14% cap rate with all units fully leased and tenants in good standing. Unit mix includes 1 two-bedroom, 1 three-bedroom, 2 one-bedrooms, and 3 bachelor apartments, each updated over time between tenancies. Ample on-site parking and a 3,000 sq. ft. insulated and heated detached garage/shop with plumbing, currently used by the owner but easily leasable for hobby use, storage, or small commercial tenantsestimated at ~$2,500/month plus expenses. The property fronts on two roads with access from both, sitting on an irregular 1.09-acre CH-zoned corner lot allowing for multiple future-use opportunities or additional income potential. Gross potential income including shop rental: $148,500/year, 2024 expenses approx. $21,900, net income $126,600. Conveniently located along Highway 3 between Tillsonburg and Delhi. (id:6289)

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