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0.46 Acre Neighbourhood commercial zoned parcel with 10 apartments in Georgetown.

  • ID : 4153911
  • Views : 282
  • Added : 05.10.2022
  • Updated : 05.15.2022
  • Expires : 08.08.2022
$2,800,000 KYD
  • Location : George Town
  • Address : 37 and 47 Maple Rd View Map

Description:

Property sold by owner. All CIREBA and NON CIREBA agents are offered 3% buyers commission.
2 apartment buildings -5 units in each. 0.46 acre Neighbourhood commercial zoned parcel.
37 and 47 Maple RD.
Only 1200 ft from the GT ONE 10 storey Luxury condo tower on Goring Ave.

Property details:

LOCATION
The Property is located on Maple Road within the Registration Section of George Town South.
Templeton Street connects with Walkers Road to the west and Smith Road to the north where a variety of amenities can be found including retail, leisure and medical facilities.
The Property is within a Neighbourhood Commercial planning area and the surrounding properties consist mainly of single family homes with some commercial buildings mostly of a medical nature.
DESCRIPTION OF PROPERTY
The Property comprises two separate buildings each arranged over two storeys with a car park in front. There is also a shared laundromat to the rear of Building 47. Building 37 provides a timber staircase leading to the second floor whereas Building 47 benefits from a concrete staircase to the second floor.
Each building provides five apartments, with both buildings providing two apartments on the ground floor and three apartments on the second floor.
Building 47 provides five units of two bedrooms and one bathroom as well as kitchen and living areas.
Building 37 provides two ground floor units of two bedrooms and one bathroom and the upper floor units are three units comprising one bedroom and one bathroom.
Building Parcel 402: 3,350 sq. ft. Gross External Area Building Parcel 403: 5,200 sq. ft. Gross External Area Total Gross External Area: 8,550 sq. ft.
37 Maple Rd have been the subject of extensive renovations that included:
Total gut and rebuild to a very high condo quality standard of 3 one bedroom units. Natural stone floors, marble baths, frameless shower glass doors, natural solid wood kitchens, split unit AC systems, all new plumbing and wiring.
New Stucco on the exterior.
New Standing seam roof.
Construction of the new water meter panels enclosure and piping for individual meters.
Total costs over $300,000 KYD.

Net annual income is $153,670.00 KYD.
5.5% CAP rate.

To view please email [email protected] or Whatsapp 1(416) 880 0404

Details:

  • Posted : 05.10.2022
  • Bedrooms : 11+
  • Bathrooms : 7+
  • Sold By : Property Owner
  • Year Built : 1999 or Before
  • Furnished : Yes
  • Title : Freehold

Documents :