I have listed a new property at 365 Charles ST in Winnipeg.
Three buildings to be sold as a package, a 10 unit apartment block with 2-3 BRs, 2-2 BRs, & 6-1 BRs. Also 2 tri-plexes with 2-2 BRs & 1BR each. Total potential income is $126,000 including parking & laundry revenue. Total expenses of $36,648 without taxes. Current taxes are $15,544.54 but converting back into one title would reduce taxes by half as they used to be $6000 prior to condominium conversion. Possible net income of close to $80,000 with new property tax value. Tenants pay their own hydro. Buildings were mostly renovated in 2009 with newer windows and mostly new kitchens & updated bathrooms. Was converted into condos with mostly out of town individual owners now agreeing to sell the entire package together. Up to code with fire alarms and fire escapes. Live in caretaker who does all of the renting and collecting of rents. Also full security cameras with surveillance set up. Many long term tenants.
