313 Midland Avenue, Midland, ON
Property no longer active
This property was sold on July 24, 2024. This listing is for reference purposes only. to view the sold price.
Property Highlights
Welcome to this remarkable 3-Storey multiplex located in the coveted neighborhood of Midland. Expertly crafted featuring premium metal/steel siding and vinyl siding construction, this residence presents an exceptional opportunity offered at $1,340,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 9 Bedrooms and 11 Bathrooms with 9 functional kitchens
- Premium 63.23 x 175.06 ft lot size
- Features a partially finished, full basement, adding superb versatility for recreation, a home gym, or extra storage
- 8.0 total parking spaces available
- Notable attributes: None
- equipped with other central cooling and highly efficient forced air heating via gas
Description
Steps from the shore of Georgian Bay in Midland's bustling downtown sits this 11 unit, fully tenanted multi-res building. This 3 storey structure features an assortment of layouts and updated spaces, with 4 units on each of the first two floors, and 3 units on the third floor. High historical demand for these dwellings suggests a prospective investor may expect stable income, at a cap rate of 6.5%. When properly configured, the parking area allows for a minimum of 8-10 vehicles. The basement contains multiple storage units, a laundry area, a modest office, utility rooms, and a workshop which could be converted for other applications (including residential). Most units enjoy forced air heat, except two which use electric baseboard. Tenants run their own air conditioning units in warmed months. Reach out today for more information on this excellent investment opportunity *Listing agent is related to the seller
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Property Summary
This multiplex located at 313 Midland Avenue, Midland is currently for sale and has been available on SousaSells for 743 days. This property is listed at $1,340,000 with an estimated mortgage of $4,460* per month. It has 9 beds, 11 bathrooms, and is unknown square feet. 313 Midland Avenue, Midland is in the Midland neighborhood.
* Estimated mortgage assumes a 30% down payment, 4.00% interest rate, and 30-year amortization.Key Features
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Property History
No historical data available for this property.
This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 313 Midland Avenue, Midland, ON L4R 3K5
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Midland, ON
For a property listed at $1,340,000 in Midland, the legal minimum down payment is $268,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $23,275 for this transaction. As this listing is in Midland (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $23,275.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.