Description
5233-39 N. Damen Ave a mixed-use 2 story apartment building located in the northside Bowmanville neighborhood, a few blocks to Clark/Ashland Ave and just north of Foster Ave. There are 3 commercial spaces in store fronts and 3 residential units on the second floor - two 2 Bedroom apartments and one studio apartment. Approximately 1200 Sq ft. corner store front was previously occupied by the Leadway Tavern, popular bar & grill and vacant in 2020 And currently being in the process of bringing to "vanilla box" condition . The other two store fronts of approx 750 Sq ft. each, one currently photo studio ( $ 1,500 / month), and the other end space (also approx 750 Sq ft.) is occupied by a hair salon with rent $ 1,500/ mo. One of the 2 bed/1 bath apartments upstairs occupied by a longtime tenant paying $1200/mo. The third upstairs apartment is a non conforming studio that is currently vacant. All of the residential and ALL commercial units have separate furnaces and tenants pay their OWN heating bill and electricity bill. Each of the three commercial spaces has one bathroom. New windows and doors for all commercial spaces (2020). Building was painted and tuckpointed within last 2- 3 years. Building Square Footage = 6,148 Sq Ft. Zoning: B1-2 Annual rental income (with projected lease of currently vacant corner store front) $ 112,800. CAP RATE = 6.5%.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
5233-39 N. Damen Ave a mixed-use 2 story apartment building located in the northside Bowmanville neighborhood, a few blocks to Clark/Ashland Ave and just north of Foster Ave. There are 3 commercial spaces in store fronts and 3 residential units on the second floor - two 2 Bedroom apartments and one studio apartment. Approximately 1200 Sq ft. corner store front was previously occupied by the Leadway Tavern, popular bar & grill and vacant in 2020 And currently being in the process of bringing to "vanilla box" condition . The other two store fronts of approx 750 Sq ft. each, one currently photo studio ( $ 1,500 / month), and the other end space (also approx 750 Sq ft.) is occupied by a hair salon with rent $ 1,500/ mo. One of the 2 bed/1 bath apartments upstairs occupied by a longtime tenant paying $1200/mo. The third upstairs apartment is a non conforming studio that is currently vacant. All of the residential and ALL commercial units have separate furnaces and tenants pay their OWN heating bill and electricity bill. Each of the three commercial spaces has one bathroom. New windows and doors for all commercial spaces (2020). Building was painted and tuckpointed within last 2- 3 years. Building Square Footage = 6,148 Sq Ft. Zoning: B1-2 Annual rental income (with projected lease of currently vacant corner store front) $ 112,800. CAP RATE = 6.5%.
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