I have sold a property at 1 277 Atlantic AVE in Winnipeg.
rented for $725/month + hydro with condo fees being $166.20/month and
taxes at $98/month, leaving $386/month. With 20% down, or $14,000, the
mortgage of $56,000 would be $258/month leaving approximately
$100/month net income. The property is currently set up as a rental
pool with all 21 units in the pool. The group pays out 85% of the rents
to you (15% management fee) and the onsite caretaker looks after
everything including minor repairs, cleaning, collection of rents and
renting out the units. The condo fees includes the payment of the
caretakers suite for their work. There is also $10,000 currently in the
reserve fund, with a further $500/month projected to be deposited into
the reserve from the condo fees. The property was renovated
approximately 3-4 years ago with all new electrical and new baseboard
heat, new kitchens and bathrooms & new appliances, and the common
areas were renovated as well. There is an onsite laundry facilities.
There is no direct parking included in this building.