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October 8, 2010
New property listed in Town of Vermilion
Categories:Town of Vermilion Real Estate
I have listed a new property at 4802 4804 RIVERSIDE DRIVE in Town of Vermilion.
Outstanding revenue opportunity in the Vermilion market. Vermilion's strong rental market has a low vacancy rate due to the Lakeland College, Fire, etc (Fire and Emergency training school), oilfield and agriculture markets. This property has been in the family since the 4-plex was constructed - and its time to hand over the 5 sets of keys. The 4-plex was built in 1971 and features two, two bedroom suites up and 2, 1 bedroom suites down. The picturesque river valley view provides large windows and ground level entrances for all units. Each unit shares a secure laundry room with 1 other unit. Also included in this package is a 1945 two bedroom, storey and a half home located next to the 4-plex. All units are currently rented out providing a turn key opportunity for the next owner! Annual income of $41,400.00 with a net operating income of approximately $31,399.00. Current market would allow rate adjustments. Contact listing associate for property statistics.