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3 Church St 21 Unit Apartment Building $3,218,055 USD ($153,241 USD/Unit) 4.45% Cap Rate St Catharines, ON L2R 3B1
Investment Highlights
- Downtown location with lots of local amenities
- 14 of the 21 units are already renovated with below market rents
- Easy access to 406 and QEW
Financial Summary (Actual - 2023) |
Annual (USD) | Annual Per SF (USD) |
|---|---|---|
| Gross Rental Income |
$216,306
|
$8.30
|
| Other Income |
$3,503
|
$0.13
|
| Vacancy Loss |
$4,326
|
$0.17
|
| Effective Gross Income |
$215,483
|
$8.27
|
| Taxes |
$23,131
|
$0.89
|
| Operating Expenses |
$46,555
|
$1.79
|
| Total Expenses |
$69,686
|
$2.67
|
| Net Operating Income |
$145,796
|
$5.59
|
Financial Summary (Actual - 2023)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $216,306 |
| Annual Per SF | $8.30 |
| Other Income (USD) | |
|---|---|
| Annual | $3,503 |
| Annual Per SF | $0.13 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | $4,326 |
| Annual Per SF | $0.17 |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $215,483 |
| Annual Per SF | $8.27 |
| Taxes (USD) | |
|---|---|
| Annual | $23,131 |
| Annual Per SF | $0.89 |
| Operating Expenses (USD) | |
|---|---|
| Annual | $46,555 |
| Annual Per SF | $1.79 |
| Total Expenses (USD) | |
|---|---|
| Annual | $69,686 |
| Annual Per SF | $2.67 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $145,796 |
| Annual Per SF | $5.59 |
Property Facts
| Price | $3,218,055 USD | Building Class | C |
| Price Per Unit | $153,241 USD | Lot Size | 0.23 AC |
| Sale Type | Investment | Building Size | 26,070 SF |
| Cap Rate | 4.45% | No. Stories | 3 |
| No. Units | 21 | Year Built | 1922 |
| Property Type | Multifamily | Parking Ratio | 0.19/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | Multifamily Residential | ||
| Price | $3,218,055 USD |
| Price Per Unit | $153,241 USD |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.23 AC |
| Building Size | 26,070 SF |
| No. Stories | 3 |
| Year Built | 1922 |
| Parking Ratio | 0.19/1,000 SF |
| Zoning | Multifamily Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | $896.16 USD | 400 - 500 |
| 1+1 | 9 | $1,079 USD | 550 - 650 |
| 2+1 | 6 | $1,427 USD | 650 - 800 |
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