We are excited to present a prime value-add opportunity at 318087 Highway 6 & 10, Meaford — a 76-unit multifamily property comprising 53 bachelor units and 23 one-bedroom units. Priced competitively at just $111,842 per unit, this property provides investors with immediate value, bolstered by a projected year 1 Net Operating Income of $441,427. A newly installed laundry room adds an additional income stream, enhancing the overall revenue potential.
What truly distinguishes this property is its significant upside potential, estimated at 124%, driven by operational efficiencies and rent growth opportunities. This makes it an ideal asset for investors looking to maximize returns through active management and value-add improvements. Situated on a sprawling 7.84-acre lot, the property also offers ample surface parking and potential future redevelopment options.
With its attractive pricing, immediate income generation, and impressive upside potential, 318087 Highway 6 & 10 stands out as a highly desirable investment for those looking to leverage the growing demand for multifamily housing in the Owen Sound region.