117 Vermillion Avenue

8,000 sqft

AN IMPRESIVE 10%+ CAP RATE INVESTMENT AND DEVELOPMENT OPPERTUNITY in the heart of Princeton! Generating approx. $12,000/month from 9 units, this property delivers strong cash flow with a significant upside. An additional approx. 3000 sq ft of unused space on the second floor provides further income potential. Extensive upgrades include new plumbing throughout, updated electrical with 7 individual meters, plus new flooring and paint in most units. Many suites have kitchen and bathroom upgrades as well.The development upside is a huge bonus, initial conceptual drawings have been complete and initial discussions with town have been conducted with huge support. Princeton is a pro development community experiencing major growth, with new builds up to 6 storeys. There is a sever housing shortage and the vacancy rate is below 1%, Princeton is quickly becoming a market for developers and investors. Strong income and incredible future value. (id:67517)

• Property Details

  MLS® Number	10400499
  Property Type	Multi-family
  Neigbourhood	Princeton
  AmenitiesNearBy	Park, Shopping
  CommunityFeatures	Pets Allowed With Restrictions
  Features	Two Balconies

• Building

  Appliances	Oven - Electric, Oven, Hood Fan, Washer & Dryer
  BasementType	Crawl Space
  ConstructedDate	1929
  ExteriorFinish	Other
  FlooringType	Mixed Flooring
  HeatingFuel	Electric
  HeatingType	Baseboard Heaters
  RoofMaterial	Other
  RoofStyle	Unknown
  StoriesTotal	2
  SizeInterior	8,000 Sqft
  Type	Multi-family
  UtilityWater	Municipal Water

  Street
  Rear

• Land

  AccessType	Easy Access
  Acreage	No
  LandAmenities	Park, Shopping
  Sewer	Municipal Sewage System
  SizeIrregular	0.25
  SizeTotal	0.25 Ac|under 1 Acre
  SizeTotalText	0.25 Ac|under 1 Acre

• Rooms
• Utilities