Located in the heart of Brockville, Ontario, this high-value Multifamily/Commercial building now operates as a six-unit residential property (converted from its original four large one-bedroom units) with an established retail storefront. This strategic conversion maximized its revenue potential and overall market value.
By reconfiguring the building's layout to create a legal six-unit setup (consisting of three bachelor apartments and three one-bedroom units) and a retail store, we achieved the most substantial increase in revenue. Rent increases, renovations, and thorough tenant screening were also important contributing factors.
This property proved to be a real estate gem. Starting with a 7% Cap Rate and approximately $38k Net Operating Income (NOI) at purchase, we increased the NOI to $91k. This successful turnaround generates $60k in annual cash flow and has established a 66% equity stake, providing capital for future projects or immediate financial enjoyment.
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