King Street Apartments

This 7-unit apartment building in Brockville consists of six 1 bedroom apartments and one commercial unit.  The commercial unit was leased but the entire 2nd and 3rd floor of apartments were vacant upon possession. The apartments were close to rentable condition and so we only invested $60,000 into them but the roof needed substantial work. Leasing began immediately and we were full within 4 months. 

I am in the midst of refinancing the property to takeout the private lender through a CMHC backed loan.  I plan to hold this property for the long-term or sell it when market conditions are favorable.