Space
Finished area and layout
- Above Grade
- 7,680 sqft
- Finished Breakdown
- Above 7,680 sqft
+19 more
7,680 sqft
Above Grade
0.281 ac
Lot
1999
Year Built
Property Snapshot
Key details for this listing
MLS #202616313
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
An outstanding opportunity to acquire a high-performing waterfront investment property (10% Cap rate) offering stable cash flow, an exceptional location, and significant long-term upside. This well-maintained 6-7 unit mixed-use building occupies a premier waterfront setting with unobstructed ocean views while being just steps from shopping, restaurants, services, and public transit - an ideal combination that supports both commercial success and strong residential occupancy. The property is anchored by an established commercial tenant occupying both ground-floor units, providing dependable income and reducing leasing risk. Above, five spacious one-bedroom residential suites generate consistent rental revenue, with each waterfront-facing apartment featuring a private balcony overlooking the ocean - a highly sought-after amenity that encourages strong tenant demand, premium rents, and excellent tenant retention. Additional income generated through coin-operated laundry, while the on-site parking lot is a valuable asset that enhances convenience for both commercial and residential tenants. A live-in superintendent is currently in place and may be retained, offering seamless day-to-day property management for investors seeking a hands-off ownership experience. With its balanced mix of commercial and residential income this property offers diversification that helps reduce investment risk while benefiting from multiple revenue streams. Opportunities to acquire quality waterfront income properties of this calibre are increasingly rare, making this an ideal addition to an investment portfolio or a strategic long-term hold. A CAP reate of just over 10% is particularly attractive in today's market, reflecting strong cash flow relative to the purchase price and providing investors with an excellent balance of immediate income. (id:60351)
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