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3 Church St 21 Unit Apartment Building £2,389,997 (£113,809/Unit) 4.45% Net Initial Yield 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 | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£160,647
|
£6.16
|
| Other Income |
£2,601
|
£0.10
|
| Vacancy Loss |
£3,213
|
£0.12
|
| Effective Gross Income |
£160,036
|
£6.14
|
| Taxes |
£17,179
|
£0.66
|
| Operating Expenses |
£34,576
|
£1.33
|
| Total Expenses |
£51,755
|
£1.99
|
| Net Operating Income |
£108,281
|
£4.15
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £160,647 |
| Annual Per sq ft | £6.16 |
| Other Income | |
|---|---|
| Annual | £2,601 |
| Annual Per sq ft | £0.10 |
| Vacancy Loss | |
|---|---|
| Annual | £3,213 |
| Annual Per sq ft | £0.12 |
| Effective Gross Income | |
|---|---|
| Annual | £160,036 |
| Annual Per sq ft | £6.14 |
| Taxes | |
|---|---|
| Annual | £17,179 |
| Annual Per sq ft | £0.66 |
| Operating Expenses | |
|---|---|
| Annual | £34,576 |
| Annual Per sq ft | £1.33 |
| Total Expenses | |
|---|---|
| Annual | £51,755 |
| Annual Per sq ft | £1.99 |
| Net Operating Income | |
|---|---|
| Annual | £108,281 |
| Annual Per sq ft | £4.15 |
PROPERTY FACTS
| Price | £2,389,997 | Costar Property Class | C |
| Price Per Unit | £113,809 | Total Plot Size | 0.23 ac |
| Sale Type | Investment | Property Size | 26,070 sq ft |
| Yield | 4.45% | No. Floors | 3 |
| No. Units | 21 | Year Built | 1922 |
| Property Type | Build-to-Rent | Parking Allocation | 0.19/1,000 sq ft |
| Property Subtype | Apartment | ||
| Use Class | Multifamily Residential | ||
| Price | £2,389,997 |
| Price Per Unit | £113,809 |
| Sale Type | Investment |
| Yield | 4.45% |
| No. Units | 21 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Costar Property Class | C |
| Total Plot Size | 0.23 ac |
| Property Size | 26,070 sq ft |
| No. Floors | 3 |
| Year Built | 1922 |
| Parking Allocation | 0.19/1,000 sq ft |
| Use Class | Multifamily Residential |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| Studios | 6 | £665.57 | 400 - 500 |
| 1+1 | 9 | £801.39 | 550 - 650 |
| 2+1 | 6 | £1,059 | 650 - 800 |
1 1
Walk Score®
Excellent pedestrian access (97)
Bike Score®
Good for cycling (81)
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3 Church St
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