825 Downland Ave

Must see all brick well maintained 2 unit income property located in a desirable New Sudbury location, This home has an in-law suite, and annual rental income of $34,800 and a Net operating income of $25,589.47 thats almost a 7% cap rate in New Sudbury!! This updated home features a renovated spacious open concept 2 bedroom main floor unit, that is currently rented for $1650/month, The lower level open concept 2 bedroom unit is currently rented at $1250/month, will be vacant December 1st. The property features 2 driveways, large 28x18 insulated detached garage, carport, separate entrances to both units, separate laundry, and newer high efficiency gas furnace. Rent Roll unit#1-2 bed $1650 inclusive x 12= $19,800 unit#2-2 bed $1250+inclusive x12= $15,000 Total Income $34,800 Expenses: Greater Sudbury Utilities $2948.22 Union Gas $648.28 Reliance hot water rental $234.24 Property Taxes 2020 $3,655.99 Insurance $1723.80 Total Expenses $9,210.53 Net Operating Income $25,589.47 almost a 7% cap rate! (id:22211)