992 Allenby Rd
House for sale in Errington — $1,350,000
Key facts
- Type: House
- Price: $1,350,000
- Lot: 36,155 sq ft
- City: Errington
- MLS® number: 1028092
- Agent: Century 21
- Brokerage: Century 21 Canada
Description
Investment property of .82 Acres with 9 rentable single tenant units with a high yield income asset (7-10% Cap Rate. This 3 title parcel which can not be subdivided is only 5 minutes to downtown Parksville and is in great condition. The Current Owners have expended time and energy over 14 years into maintaining and repairing as required and have skillfully built a cohesive group of excellent, mostly contented, tenants with an almost guaranteed income for the owner of $75,000 net of expenses per year. The homes consist of a Fourplex, a Duplex with Storage Room, a Double Wide Mobile home, a Single wide mobile home and a Cabin. There is also a communal Laundry Building. There is enough water to cover all of the Homes and buildings and also service 3 Allsbrook properties with legal parameters established and documented by Heath Law. There are 3 Septic Fields and 3 separate tanks. The area is well treed providing green aspects, shade and privacy for Tenants .Call now to view.