3071 MOSLEY Street, Wasaga Beach, Ontario

$2,498,000

15 Beds
12 Baths
10,000 Square Feet

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 5.75%, 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:56241)

Listing ID: 40599900
Property Type: Multi-family
Year Built: 1960

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Details

Amenities Nearby: Public Transit
Community Features: School Bus
Ownership: Freehold
Parking Spaces: 12
Transaction: For sale
Zoning Description: R4

Building

BasementType: None
Constructed Date: 1960
Cooling: None
Fireplace Present: False
Foundation: Poured Concrete
Bathrooms (Total): 12
Heating: Baseboard heaters
Heating Fuel: Electric
Size Interior: 10000 sqft
Stories Total: 2
Utility Water: Municipal water

Land

Access Type: Road access, Highway access
Amenities: Public Transit
Sewer: Municipal sewage system
Size Frontage: 147 ft
Size Irregular: 0.437
Size Total: 0.437 ac|under 1/2 acre

Listing provided by Re/Max Hallmark Peggy Hill Group Realty Brokerage
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.

This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property, located at 3071 MOSLEY Street in Wasaga Beach Ontario, was last modified on June 6th, 2024. Contact Virginia Dawn to schedule a viewing or to find other properties for sale in Wasaga Beach.

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