Multi-family for sale
435 5th Avenue, Burns Lake - Town, Burns Lake
$1,500,000
Features
Floor Area
8,090 sqft
Lot Size
60,548 sqft
Gross Property Tax
$2,022.63 /year
Building Type
See Realtor Remarks
Zoning
R6
Suite Mix Information
8 x 2 ½
Financial Summary
$11,000
Description
Fantastic multi family property on 1.39 acre lot. The need for rental units in Burns Lake is on the rise, and this is your chance to jump in! 1 building built in 2024 has 4 x 2bdrm / 2 full baths, 1 older building with some recent renos with 4 X 2 bdrm/ 1 bath. Each unit has separate laundry. Fully tenanted with 1 year renewable leases and great tenants. Rents currently totalling $11,000 mth / $132k yr, plus tenants pay utilities. The lot has been cleared and ready for more development. As per Seller, town planners have given the OK for 32 units on the lot, with great potential for 20 (Buyer to verify). Check out the pavers in the parking lot! The potential is huge!
MLS® Number C8072085