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2 Tessier Dr 12 Unit Apartment Building $2,171,379 USD ($180,948 USD/Unit) 6.20% Cap Rate Penetanguishene, ON L9M 1V4
Investment Highlights
- Fully renovated 12-unit apartment building, priced at a 6.2% cap rate for strong returns.
- Highly desirable area makes finding quality tenants easy, ensuring consistent occupancy and cash flow.
- Situated in downtown Penetanguishene, walking distance to shopping, restaurants, and scenic Georgian Bay waterfront trails.
- Features a laundry room, security room, paved parking, appliances, and updated fire and smoke system for safety.
Executive Summary
If you are looking for an absolutely turn key 12-unit apartment building, this is it. Priced at a 6.2 cap rate. This building has had extensive renovations in the past 5 years. You will not find a better investment opportunity. 9 one-bedroom apts and 2 one-bedroom with dens and 1 two-bedroom with new kitchens, bathrooms, flooring, doors, trim, some new electrical and plumbing, drywall, heating, laundry room, security room, paved parking, appliances, fire and smoke system, and revamped decks. Great downtown Penetanguishene location, walking distance to shopping, restaurants, and a beautiful trail system along the waterfront park on Georgian Bay. Very easy to find quality tenants in this location. Minimum 36 hours' notice to show the building. First visit, we will set up only 3 apartments to give you a good feel of the property. Listing agent must be present for all showings. Financials available upon request.
Property Facts
| Price | $2,171,379 USD | Apartment Style | Low-Rise |
| Price Per Unit | $180,948 USD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.19 AC |
| Cap Rate | 6.20% | Building Size | 7,692 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1987 |
| Property Subtype | Apartment | Parking Ratio | 1.82/1,000 SF |
| Zoning | CG - Commercial General | ||
| Price | $2,171,379 USD |
| Price Per Unit | $180,948 USD |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.19 AC |
| Building Size | 7,692 SF |
| No. Stories | 3 |
| Year Built | 1987 |
| Parking Ratio | 1.82/1,000 SF |
| Zoning | CG - Commercial General |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Security System
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
1 of 12
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2 Tessier Dr
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