EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Unlock the full potential of this rare investment property in a sought-after location just steps from the water and minutes from the new casino. This former motel has been transformed into a fully tenanted, legal 12-plex, offering investors a strong cap rate of 6.75% and multiple value-add angles that make it stand out in today's market. Zoned for medium-density residential development and situated on a corner lot with 147.3 feet of frontage, this property is adjacent to vacant land earmarked for redevelopment, offering excellent future expansion potential. The generous 0.437-acre site is perfectly positioned for long-term growth and creative redevelopment in an area with rising demand for housing. Inside, the building is configured with 9 one-bedroom and 3 two-bedroom units, all of which are self-contained and have tenant-paid utilities, resulting in low operating costs and minimal landlord management. No common areas = no additional maintenance headaches. Additional highlights: Detailed P&L statement available for qualified buyers, Environmental Phase 1 report (2019) available on request with no known concerns, Ample on-site parking for all tenants and visitors, Fully occupied with reliable cash flow from day one. This is a golden opportunity for investors looking to scale, develop, or simply hold a solid income-producing asset in a high-growth area. With the casino nearby, rezoning already in place, and development buzz surrounding the neighbourhood, this property offers both immediate income and long-term upside. Opportunities like this are rare; don't miss your chance to capitalize! (id:51158)
MLS: S12230726 For sale : 3071 MOSLEY STREET EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Welcome to 3071 Mosley Street. This property is located steps from the water and the new casino, making it an attractive investment. The property is situated on a corner lot with neighbouring vacant land earmarked for teardown and sale. Rezoned for medium density, it provides an opportunity for redevelopment in response to the area’s high demand for residential spaces. With a solid cap rate of 6.75%, the property promises a lucrative investment. It comprises 9 single- and 3 double-bedroom units, all with kitchens (12), designed to generate steady rental income. There are no common areas, and tenants are responsible for their own utilities, which keeps operational costs low and maximizes profitability. A detailed profit/loss statement is available for potential buyers, providing insight into the property’s financial performance. The property has undergone a seamless transformation from a motel to meet modern residential demands, with an old Phase 1 environmental report (2019) assuring its environmental integrity. The property features an impressive 147.30′ frontage on a sizable 0.437-acre lot, offering plenty of space for expansion or additional amenities. Ample parking is available for residents and guests, enhancing its appeal and functionality. Whether you’re an experienced investor looking to expand your portfolio or an entrepreneur seeking lucrative opportunities, this property provides an ideal platform for realizing your vision. (id:51158)
| MLS® Number | S12230726 |
| Property Type | Multi-family |
| Community Name | Wasaga Beach |
| Amenities Near By | Beach, Public Transit |
| Community Features | School Bus |
| Features | Irregular Lot Size |
| Parking Space Total | 12 |
| Bathroom Total | 12 |
| Bedrooms Above Ground | 9 |
| Bedrooms Below Ground | 3 |
| Bedrooms Total | 12 |
| Age | 51 To 99 Years |
| Appliances | Two Stoves, Two Refrigerators |
| Exterior Finish | Wood |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Size Interior | 5,000 - 100,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Land Amenities | Beach, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 107 Ft ,8 In |
| Size Frontage | 147 Ft ,3 In |
| Size Irregular | 147.3 X 107.7 Ft ; 0.437 Acres |
| Size Total Text | 147.3 X 107.7 Ft ; 0.437 Acres|under 1/2 Acre |
| Surface Water | Lake/pond |
| Zoning Description | R4 |
| Cable | Available |
https://www.realtor.ca/real-estate/28489359/3071-mosley-street-wasaga-beach-wasaga-beach
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