Listing Details

Status
PENDING
Listing Price
$595,000
MLS®
201828243
Type
n/a
Style
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PID
20181897

 
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Sewer
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Overview

Serious investors are invited to consider this recently upgraded 14 unit apartment building at the heart of Truro’s downtown core. With the aid of a forgivable & transferable second mortgage five years ago from Community Services, the owners contracted with Global Construction to make many major improvements to the property. These included new siding, new roof, new windows, new bathrooms, fireproof apartment doors, new fire alarm system & fire escape, new electrical improvements & installation of additional support to the floors and exterior walls. A separate entrance to the basement was added, as was a security foyer for the tenants & their guests. There is a live-in building superintendent who handles the day to day activities, collects & deposits the rents, maintains the cosmetic appearance of the exterior & supervises the tenant activities to ensure a quiet, peaceful environment. There is paved parking for at least 7 vehicles & an adjacent public parking lot for guests. All of the 14 units are one bedroom apartments, including an accessible unit at the rear of the building. It is a low-income facility & is 100% occupied at the time of listing. All apts have a fridge & stove & there is a secure laundry room at the back, currently not in use at the time of listing. The heating is by oil hot water furnace &a new fibreglass tank has just been added in the last few months. The breakdown of the income & expense figures is an average of the past two years figures. In order to avoid fruitless disruptions to the tenants & superintendent, viewings of the building interior & details regarding the Community Services RAP program arrangement are only available to qualified buyers after a confidentiality agreement & proof of financial capacity for the necessary downpayment has been received by the listing agent from a buyer or their agent. A representative of the buildings owner would also like to be present for any viewings.

Building Specs.

Foundation Type
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Roof
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Exterior Finish
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Flooring
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Garage & Parking

Garage
N

Inclusions

14 Fridges, 14 Stoves


Exclusions

Tenants Possessions


Demographic Data

Demographic data is based on the dissemination area that contains the listing parcel . Dissemination Areas are small areas composed of one or more neighbouring dissemination blocks. All of Canada is divided into dissemination areas. Data source: Environics Analytics via ArcGIS Online, 2017


Population Size

494

Median Age

45.6

Avg Household Size

1.7

Avg Household Income

$51K

The number of people for each age range.

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The highest level of education obtained by people within this area.

The maritial status of the people in this area.

The average household income within this area.

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Tax Assessment

Year Amount % Change
2018 $312,500 1.8
2017 $318,200 9.0
2016 $291,800 3.5
2015 $281,900 50.9
2014 $573,600 80.5
2013 $317,800 2.0
2012 $311,600 ---

Maps



Last Updated On: 7/22/2019 1:20:02 PM (UTC)