1824 FORMAN AVENUE

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Description

RARE OFFERED INVESTMENT OPPORTUNITY – GREATER THAN 5% CAPITALIZATION RATE. See attached document. 1824 Forman Avenue is located in the prestigious Bel-Air Heights with an incredible location being only a 6 minute walk to Algonquin College. This bungalow has been converted to a LEGAL SECONDARY DWELLING in 2021 with all the proper channels followed. The upper unit is rented at $2400 + hydro until April 1st 2023, and the lower unit is rented at $2200 + hydro until August 1st 2023 (separate 100 amp panels). Amazing tenants in both units (2 leases total). Each unit has 3 bedrooms 1 bathroom, 2 parking spots, private deck and own laundry. Massive $55,200 annual income (with potential to increase + parking rental), with $45,986 net. An investor or end users dream. Amazing opportunity to add a turnkey investment to your portfolio with little maintenance. SDU 2021, Upstairs Reno 2021, Roof 2010, furnace 2014, A/C 2014, HWT 2022, Downspouts, Gutter Helms 2022, fence 2021 (id:21126)

Property Location

Data Provided by REALTORS® Association of Canadian Real Estate

Last Modified: Sun, 08 Jan 2023 23:10:58 GMT

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