181 PRESTON STREET, Timmins (TS - SW), Ontario, P4N3N4

Property Description

This legal four-plex is located in a strong, desirable neighborhood extremely close to the newly constructed Francophone Health Centre, making it an ideal long-term investment with stable tenant demand. The property is fully income producing and offers a solid revenue stream with excellent upside. The building consists of four self-contained units with a strong rental mix. The current rental income totals $4,850 per month or $58,200 annually. The main unit at 181 Preston rents for $2,000 per month plus utilities. Unit A at 147 Middleton rents for $850 per month plus utilities. Unit C at 147 Middleton rents for $880 per month with the owner paying hydro. Unit D at 147 Middleton rents for $1,120 per month plus hydro. Operating costs are well managed. Water and sewer are approximately $4,824 annually, property taxes are $5,592 per year, Reliance hot water rental is $759.24 per year, insurance is $2,959.20 annually, and hydro for one unit is approximately $1,260 per year, for total operating expenses of $16,654.44 annually. This produces a net operating income of approximately $41,545.56 per year. Based on an asking price of $399,900, the property delivers an approximate 10.4% cap rate, making this an exceptionally strong cash-flowing investment. This is a rare opportunity to acquire a legal four-plex in a prime location with proven income, excellent tenant demand, and outstanding investment fundamentals. MPAC 324, Total Sq.Footage 2200, Hydro Tenants, Heat $1140 /12mths, Water-Sewer $4356 / year. (id:64974)

Quick Facts

• Property Type: Fourplex
• Bedrooms: 6 (6 above)
• Bathrooms: 5
• Attached: Yes
• Fireplaces: Yes
• Parking: 6 spaces (No Garage)
• Frontage: 52 ft (15.9 m)

Costs

• Annual Taxes: $5,097.00 (2025)

Listing Provided by: REALTY NETWORKS INC.
Board: Timmins, Cochrane & Timiskaming District Association of REALTORS®
Data provided via CREA DDF®.