285 Highway 3 Norfolk, Ontario N4G 4G7
$1,771,000
Very well-maintained 7-unit apartment building generating a strong 7.14% cap rate with all units fully leased and tenants in good standing. Unit mix includes 1 two-bedroom, 1 three-bedroom, 2 one-bedrooms, and 3 bachelor apartments, each updated over time between tenancies. Ample on-site parking and a 3,000 sq. ft. insulated and heated detached garage/shop with plumbing, currently used by the owner but easily leasable for hobby use, storage, or small commercial tenantsestimated at ~$2,500/month plus expenses. The property fronts on two roads with access from both, sitting on an irregular 1.09-acre CH-zoned corner lot allowing for multiple future-use opportunities or additional income potential. Gross potential income including shop rental: $148,500/year, 2024 expenses approx. $21,900, net income $126,600. Conveniently located along Highway 3 between Tillsonburg and Delhi. (id:47351)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X12449811 |
| Property Type | Multi-family |
| Community Name | Rural Middleton |
| Features | Irregular Lot Size |
Building
| Age | 51 To 99 Years |
| Heating Type | Other |
| Size Interior | 1 Acres |
| Type | Multi-family |
Land
| Acreage | Yes |
| Sewer | Septic System |
| Size Depth | 206 Ft |
| Size Frontage | 324 Ft ,4 In |
| Size Irregular | 1.091 |
| Size Total | 1.091 Ac |
| Size Total Text | 1.091 Ac |
| Zoning Description | Ch |
https://www.realtor.ca/real-estate/28961826/285-highway-3-norfolk-rural-middleton
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
October 15 2025 02:08:31
Woodstock Ingersoll Tillsonburg and Area Association of REALTORS® (WITAAR)
Century 21 Heritage House Ltd Brokerage