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15 unit building(Oshawa)

Summers

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Jul 2, 2014
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I have a 15 unit apt building under contract til this Fri. The apt building is a private sale and not on the market. I'm willing to flip it to someone that can make a firm offer by Fri when I need to firm up. Obviously the buyer should be knowledge able to act quick. Sorry about the very short notice but I was planning to do something and not sure what way I was going, but I have other properties under construction and others starting. There is first mortgage financing available from the seller for 5 years @ 5%. There is no penalty to refinance or pay off at any time. Its an older brick building just south of downtown Oshawa with gas heat and duct work. 13 of 15 apt's have their own 60 amp service. $900k purchase price, $675k first 5%, 5 year open mort. Revenue $129k Expenses $49k Net $80k. Add a reasonable real estate commision to purchase price if there is an agent viewing this post. People who are very interested and viable buyers can call me anytime this evening or first thing tomorrow for all the particulars and to discuss what I would or could do with the property. Thanks and sorry again for the very short notice, especially on my first post. Rick 905 261-0771
 
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