Aurora Village, Aurora, L4G 1J8
Description
INVESTOR OPPORTUNITY IN CENTRAL AURORA!An excellent opportunity to acquire a well established income producing triplex in a desirable Aurora neighbourhood, conveniently located close to shops, restaurants, schools, parks, trails, transit and everyday amenities.The property features three spacious residential units, each approximately 1,305 sq. ft., offering 2 bedrooms, 2 bathrooms, two private entrances and one parking space.Current monthly rents are $2,112 for Unit 1, $2,610 for Unit 2 and $2,900 for Unit 3, generating $7,622 per month and $91,464 in annual gross rental income. Reported annual operating expenses are approximately $14,837.80, resulting in a reported NOI of approximately $76,626.20.Unit 3 is currently owner occupied, with the owner is prepared to remain as a tenant for at least one year at $2,900 per month. Adding to the property's future potential is the possibility of converting the three existing units into individually registered condominium units, creating an intriguing value add opportunity for a future owner. Preliminary discussions with the Town of Aurora have indicated that the concept may warrant further investigation. Any separation or condominium conversion would be subject to further due diligence, municipal and planning review, applicable approvals, legal requirements and building requirements.With strong existing rental income, three generously sized units and an interesting potential future repositioning opportunity, this property offers investors the chance to acquire a distinctive multi residential asset in an established Aurora location.
Features
- Facing: North
- Bedrooms: 6
- Bathrooms: 6
- Garages:
- Kitchens: 3
Details
- Lot size: 120.23 x 95.61 Feet
- Space: 3500-5000
- Tax: $ 7897.80
- N13801838
- Listing contracted with: RE/MAX HALLMARK YORK GROUP REALTY LTD.
| Bathroom | Pieces | Level | |
|---|---|---|---|
| 3xBaths | 3 pcs | Basement |
|
| 3xBaths | 3 pcs | Second |
Property Summary
Located close to the intersection of Centre & Spruce, 52 Centre St is a 6 bedrooms 6 washrooms Triplex. The property has many nice features including Accessory Apartment. .Local Area Profile
This property is located in an area with a mix of homeowners and renters with a mix of detached homes and apartments and condominiums. Approximately 43% of residents hold a bachelor's degree or higher, while about 30% have a college credential. Residents use a combination of driving and public transit for commuting.
School Information
Elementary Schools
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Home schoolRank: 1868 out of 3022 (Score: 5.6)Distance to school: 0.8 km (~14 min walk)
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French Immersion school
Rank: 433 out of 3022 (Score: 7.8)Distance to school: 0.7 km (~12 min walk) -
Catholic Gifted program school
Rank: 175 out of 3022 (Score: 8.5)Distance to school: 13.2 km (~40 min drive) -
Distance to school: 2.1 km (~6 min drive)
Secondary Schools
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Home schoolRank: 67/746 (Score: 8.2) 5 year average: 31/746 (Score: 8.2)Distance to school: 1.4 km (~26 min walk)
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Rank: 67/746 (Score: 8.2) 5 year average: 31/746 (Score: 8.2)Distance to school: 1.4 km (~26 min walk)
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AP program school
Rank: 67/746 (Score: 8.2) 5 year average: 109/746 (Score: 7.5)Distance to school: 14.6 km (~44 min drive) -
AP program school
Rank: 1/746 (Score: 10.0) 5 year average: 2/746 (Score: 9.3)Distance to school: 1.2 km (~22 min walk) -
Catholic Home school
Rank: 244/746 (Score: 6.9) 5 year average: 262/746 (Score: 6.6)Distance to school: 0.9 km (~17 min walk) -
Rank: 244/746 (Score: 6.9) 5 year average: 262/746 (Score: 6.6)Distance to school: 0.9 km (~17 min walk)
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Rank: 259/746 (Score: 6.8) 5 year average: 195/746 (Score: 7.0)Distance to school: 6.5 km (~20 min drive)
