Space
Finished area and layout
- Above Grade
- 7,680 sqft
- Finished Breakdown
- Above 7,680 sqft
+22 more
7,680 sqft
Above Grade
0.281 ac
Lot
1999
Year Built
Property Snapshot
Key details for this listing
MLS #202616309
Property
Type, style and structure
- Type
- residential
- Style
- multi-family
- Ownership
- Freehold
- Basement
- None
- Year Built
About This Property
This multi-family in Barrington Passage offers 7,680 sqft of above grade on a 0.281 ac lot. Built in 1999. The property has lot dimensions of 0.2811. The home features tile and laminate and carpeted flooring, heat pump, baseboard heaters, electric, ductless heating, air conditioned, a none basement.
MLS Remarks
**Waterfront properties generate attention. Waterfront investments generating a 10.07% CAP rate are much harder to find.** This exceptional mixed-used investment combines strong cash flow, dependable tenants, and one of the area's most desirable waterfront locations. Offered at $725,000 with a Net Operating Income at $73,000 annually, this turnkey asset delivers an attractive 10.07% CAP rate while providing the long-term security of diversified income streams. The property features a well-established commercial tenant occupying both ground-floor units, creating stable, reliable revenue, while the upper level offers five spacious one-bedroom residential suites. Each waterfront-facing apartment includes its own private balcony overlooking the ocean - an increasingly rare feature that supports strong rental demand, premium occupancy, and long-term tenant retention. Perfectly positioned on the water's edge, tenants enjoy spectacular ocean views with the convenience of restaurants, shopping, services, and transit just steps away. Additional income is generated through coin-operated laundry, while the large on-site parking lot provides added value for both residential and commercial tenants. A live-in superintendent is already in place and may be retained, making this an ideal opportunity for investors seeking efficient, hands-off management. Whether you're expanding an existing piortfolio or acquiring a flagship waterfront asset, this property offers the qualities experienced investors value most; consistent cash flow, diversified income, a proven rental history, limited maintenance concerns, and an irreplaceable waterfront location with long-term appreciation potential. Investment opportunities offering this combination of yield, stability, and location are increasingly rare. (id:60351)
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