$6,800,000
Available - For Sale
Listing ID: X12757566
322 Honeyborne Street , Mississippi Mills, K0A 1A0, Lanark
| Purpose-built 24-unit apartment building completed in 2020, located in the growing community of Almonte, approximately 20 minutes west of Ottawa. This modern three-storey asset features a strong and practical unit mix comprised of 17 two-bedroom units, 2 one-bedroom units, and 5 three-bedroom units, and is serviced by an elevator, making it attractive to a broad range of tenants and long-term demographic demand.Suites range from approximately 650 to 955 square feet and feature efficient, open-concept layouts. Units are finished with laminate flooring, are equipped with fridge, stove, dishwasher, and window coverings. Coinamatic's modern laundry facilities are conveniently located on every floor.From an operational standpoint, the property is designed for efficiency and ease of management. Tenants pay hydro, while the landlord pays gas heat, water, and sewer. The site offers approximately 30 parking spaces plus 5 visitor parking, with additional street parking available. Security features include controlled entry with intercom and camera-monitored common areas.As a newer construction, the property has benefited from favourable property tax treatment applicable to new multi-residential rental developments, subject to municipal tax classifications. In addition, as a post-2018 construction, the building benefits from rent control exemption, providing meaningful long-term income growth potential.Ideally situated within walking distance to grocery stores, pharmacies, restaurants, banks, parks, coffee shops, and essential services, the property benefits from Almonte's continued population growth and proximity to Ottawa's west end.A modern, scalable multifamily asset offering strong fundamentals, durable construction, and long-term stability in a supply-constrained rental market. |
| Price | $6,800,000 |
| Taxes: | $51421.56 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 322 Honeyborne Street , Mississippi Mills, K0A 1A0, Lanark |
| Postal Code: | K0A 1A0 |
| Province/State: | Lanark |
| Legal Description: | PART BLOCK 2, PLAN 27M80, PART 1 ON 27R1 |
| Directions/Cross Streets: | Conc 11A and Honeyborne |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - Over 20 Units |
| Building Percentage: | T |
| Total Area: | 34207.67 |
| Total Area Code: | Square Feet |
| Management Expense: | 18124 |
| Water Expense: | $14456 |
| Net Income Before Debt: | $291966 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | No |
$
%
Years
This calculator is for demonstration purposes only. Always consult a professional
financial advisor before making personal financial decisions.
| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| EXP REALTY |
|
|
Sumit Chopra
Broker
Dir:
647-964-2184
Bus:
905-230-3100
Fax:
905-230-8577
| Virtual Tour | Book Showing | Email a Friend |
Jump To:
At a Glance:
| Type: | Com - Investment |
| Area: | Lanark |
| Municipality: | Mississippi Mills |
| Neighbourhood: | 911 - Almonte |
| Tax: | $51,421.56 |
| Fireplace: | N |
Locatin Map:
Payment Calculator:
