Listing Presented by Derek McGrath Team, Broker of Record with Cambridge
MLS®#: 30616146 $699,900 57 LINNWOOD Avenue CAMBRIDGE ON N1R 1V2
Description: Well maintained 3 unit residential building in one of Cambridge's fastest growing areas. Great investment opportunity!All units rented out month to month. FRONT unit 3 bedroom with wood burning fireplace, MIDDLE unit 2 bedroom, BACK unit 2 bedroom. New Roof 2017, Windows 7 years, ample parking, close to all amenities. Electric baseboards easily converted to gas furnace. (Seller has a quote to convert). All tenants are on month to month. The duration of tenancies vary from 5-8 years.Seller receives rent for 3 bedroom unit $1200.00/month and Tenant pays for all utilities. Seller receives rent for the 2 bedroom unit $800.00/month and Tenant pays for all utilities. Maintenance on the buildings include: Insurance on each building (roughly $1000.00 per unit a year), snow removal per year is $1,500.00 for both buildings, One of the tenants cuts the grass, Taxes are $4,200.00 each building. The quote the Seller received to convert baseboard to gas is quite old and Listing Agent is waiting for a company to give a recent idea on what it would cost. The overall condition is very clean and structure in tact. Units may need updating. The roof on 57 Linnwood Ave was done in 2016. The windows were all replaced within 7 year
Directions: LINNWOOD / ELGIN ST. N.
Electric - Baseboard