For Sale


320 LAKE ST STREET , Pembroke, Ontario K8A5M2


Constructed in 2017/18, this 16-unit building just two blocks from Algonquin College in downtown Pembroke features 15 three-bedroom suites and 1 one-bedroom suite, all with appliances (fridge/stove/dishwasher) and furniture package. Projected gross income from rental and parking for 2023 projected at $410,310/annum. Seller's expenses in 2022 as follows: advertising and promotion: $307; insurance: $17,779; laundry (card/lease) and cleaning: $15,436; management fees: $20,340; property taxes: $28,961; grounds, maintenance & repairs: $28,961; utilities and security, Internet included: $49,182; professional fees: $3,497, office: $543. Total before debt service for 2022 is $162,499. Assuming a 2% increase in operating expenses and projected income for 2023 of $244,561 with projected cap rate asking at 5.4%. Parking is assigned with overflow available. The age of the property is technically 0-5 years (occupied September 2018). Laundry is coin (actually card) operated. (id:27)

Property Summary

  • Neighbourhood: Algonquin College Pembroke
  • Lot Frontage: 252.0 Feet
  • Lot Size: 252 ft X 0 ft (Irregular Lot)
  • No. of Parking Spaces: 21
  • Built in: 2016
  • Zoning: R4-32

Property Features:

  • Ownership Type:
  • Property Type:
Neighbourhood Info

Craig Edmonds

Sales Representative

Phone: 613-735-1062

Cell: 613-633-7653

Toll Free: 1-877-697-7653

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