14 bed
7 bath
4,575 sqft
Other
Built in 1910
1,525 sqft lot
0 parking
Freehold NonStrata
RT-3 zone
Public remarks
The HIP-O! Cool 3 Storey, 15 Unit Historic Bldg in Trendy Strathcona, Block to new St Paul Hospital, mins to D/T, Chinatown, 4500 SF Bldg+1500 SF Bsmt completely reno'd 2016-2019 - sprinklers, plumbing, elec, flrs, kitchs, roof, baths & more. Contains 3 Grd Flr S/C Suites; 2nd & 3rd Flrs each w 6 furnished single rooms w sink, - each Flr has a modern big kitchen, 2 baths. 1500 SF Bsmt w Coin laund, Util/mech, bike storage, lockers. 2 of 12 single rooms are COV SRA rent restricted, rest incl 3 S/C Suites are unrestricted market rentals., Gross Inc $17,916/mo, $214,992/yr; NOI $130,157/yr, Cap Rate 5%. Prof managed & maintained good Tenants. Great hands off investment, or n-p housing. Seller will consider VTB 2nd Mtg to Qualified Buyer. Call LS Details, Info Pkg Showings w 2 day notice.
Private remarks
Strathcona 4500 SF 15 Unit Rental Bldg plus 1500 SF Bsmt w Great Income! Developed under COV Housing Agreement & Covenant allows 3 Self Cont Ground Units w sep ent & 12 single rooms-2 as SRA low Income rentals & remaining 10 rooms & 3 Suites as market rentals - Agreement in doc's. Gr Inc $215K/year. Prof managed by DPM Mngt. NOTE Sellers will consider VTB 2nd Mtg w good terms to Qualified Buyer. Call LS Details, Info Pkg Show w 2 Day Notice by Appt must confirm. Cap Rate 5%.
Buyer agency compensation
3.255% 1st $100,000 plus 1.1625% of balance
$2,599,000 ($568/sqft)
Active
Listed
03/31/2025
Expiry date
Original price
Gross taxes (2024)
$7,731.40
Property transfer tax
$55,970.00
Last Updated: 04/02/2025 01:05 PM
Courtesy of RE/MAX Real Estate Services
Address | MLS® | Changed | List date | Status | List price | Close price | List agent | List office |
---|---|---|---|---|---|---|---|---|
406 Union Street | R2984601 | 04/02/2025 01:05 PM | 03/31/2025 | Active | $2,599,000 | Login to view | Bob Bracken | RE/MAX Real Estate Services |