19
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$6,500,000
Est. payment /mo
Price Dropped by $300K
322 Honeyborne ST Mississippi Mills, ON K0A 1A0
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 911 - Almonte
MLS Listing ID X12757566
Annual Tax Amount $51,421
Tax Year 2025
Property Sub-Type Investment
Property Description
Purpose-built 24-unit apartment building completed in 2020, located in the growing community of Almonte, approximately 20 minutes west of Ottawa. This modern three-storey asset features a strong and practical unit mix comprised of 17 two-bedroom units, 2 one-bedroom units, and 5 three-bedroom units, and is serviced by an elevator, making it attractive to a broad range of tenants and long-term demographic demand.Suites range from approximately 650 to 955 square feet and feature efficient, open-concept layouts. Units are finished with laminate flooring, are equipped with fridge, stove, dishwasher, and window coverings. Coinamatic's modern laundry facilities are conveniently located on every floor.From an operational standpoint, the property is designed for efficiency and ease of management. Tenants pay hydro, while the landlord pays gas heat, water, and sewer. The site offers approximately 30 parking spaces plus 5 visitor parking, with additional street parking available. Security features include controlled entry with intercom and camera-monitored common areas.As a newer construction, the property has benefited from favourable property tax treatment applicable to new multi-residential rental developments, subject to municipal tax classifications. In addition, as a post-2018 construction, the building benefits from rent control exemption, providing meaningful long-term income growth potential.Ideally situated within walking distance to grocery stores, pharmacies, restaurants, banks, parks, coffee shops, and essential services, the property benefits from Almonte's continued population growth and proximity to Ottawa's west end.A modern, scalable multifamily asset offering strong fundamentals, durable construction, and long-term stability in a supply-constrained rental market.
Location
Province ON
County Lanark
Area Lanark
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 53.29
Lot Depth 71.81
Others
ParcelsYN No
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Listed by EXP REALTY
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