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The Nunno Group

[email protected] +1(416) 690-2121

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320 Pefferlaw RD Georgina, ON L0E 1N0

10 Beds

6 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3500-5000

Subdivision Pefferlaw

MLS Listing ID N13673612

Style 2-Storey

Bedrooms 10

Annual Tax Amount $8,033

Tax Year 2025

Property Sub-Type Multiplex

Lot Depth 331.0

Lot Front 167.0

Property Description

Investment opportunity for a forward thinking single investor or group. The investment not only has substantial immediate net operating income but also offers a buyer the opportunity to develop 2 additional apartments for a substantial increase in the Gross Income with minimal impact on the Operating Expenses. Additionally the property has a large amount of excess land fronting on Florence Drive offering the opportunity to sever 3 separate building lots. The proceeds from the sale of one, two or all of the lots can be applied to reduce the initial purchase cost. The building is a very well maintained multi-residential 6 unit apartment building in the Village of Pefferlaw. The buyer will be assuming extremely reliable Longterm mature tenants. Two large 3 bedroom units on the main level and an additional four large 1 bedroom units on the second floor. Income statements attached as "Financials". The Current Gross Income from the existing 6 units is $100,376. The Seller has made preliminary inquiries with the Town of Georgina to develop two basement apartments providing a great opportunity to increase the Gross Income utilizing existing building space. Drawings are attached as "Potential Basement Apartments" and can also be viewed in the photo section. Gross Income with two new market rent apartments is estimated to be $160,800. Current operating expenses are less than $17,000 per year. The Seller has also made preliminary inquires with the local authorities to sever excess unused vacant land to the rear of the property and fronting on Florence Drive. A preliminary site plan is attached as "Potential Site Re-Development" and can also be viewed in the photo section. A conservative estimate of current market value for vacant building sites in the Pefferlaw area is $200,000 per lot. There are very few building lots available in the Pefferlaw area creating a strong demand from local builders and buyers looking to create custom family homes.

Location

Province ON

County York

Area York

Zoning R3-19

Rooms

Family Room No

Basement Development Potential, Full, Separate Entrance, Walk-Up, Partially Finished

Kitchen 6

Interior

Interior Features Separate Heating Controls, Separate Hydro Meter, Sump Pump, Water Heater, Water Treatment

Cooling None

Inclusions All landlord Possessions on closing.

Exterior

Parking Features Private

Pool None

Roof Type Asphalt Shingle,Asphalt Rolled

Lot Frontage 167.0

Lot Depth 331.0

Total Parking Spaces 14

Building

Foundation Concrete, Concrete Block

Others

Senior Community No

ParcelsYN No

Listed by STEPHEN JOHN BARRETT

The Nunno Group

Broker | License ID: 4555-00

+1(416) 690-2121

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Ontario, Canada

The Nunno Group

320 Pefferlaw RD Georgina, ON L0E 1N0

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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320 Pefferlaw RD

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