EXCLUSIVE 12-UNIT PROPERTY IN A HIGH-DEMAND AREA WITH EXCITING DEVELOPMENT POTENTIAL! Unlock the full potential of this rare investment property in a sought-after location just steps from the water and minutes from the new casino. This former motel has been transformed into a fully tenanted, legal 12-plex, offering investors a strong cap rate of 6.75% and multiple value-add angles that make it stand out in today’s market. Zoned for medium-density residential development and situated on a corner lot with 147.3 feet of frontage, this property is adjacent to vacant land earmarked for teardown and redevelopment, offering excellent future expansion potential. The generous 0.437-acre site is perfectly positioned for long-term growth and creative redevelopment in an area with rising demand for housing. Inside, the building is configured with 9 one-bedroom and 3 two-bedroom units, all of which are self-contained and have tenant-paid utilities, resulting in low operating costs and minimal landlord management. No common areas = no additional maintenance headaches. Additional highlights: Detailed P&L statement available for qualified buyers, Environmental Phase 1 report (2019) available on request – no known concerns, Ample on-site parking for all tenants and visitors, Fully occupied with reliable cash flow from day one. This is a golden opportunity for investors looking to scale, develop, or simply hold a solid income-producing asset in a high-growth area. With the casino nearby, rezoning already in place, and development buzz surrounding the neighbourhood, this property offers both immediate income and long-term upside. Opportunities like this are rare; don't miss your chance to capitalize! (id:61594)
| MLS® Number | 40742943 |
| Property Type | Multi-family |
| Amenities Near By | Public Transit |
| Community Features | School Bus |
| Parking Space Total | 12 |
| Bathroom Total | 12 |
| Bedrooms Total | 15 |
| Basement Type | None |
| Constructed Date | 1960 |
| Cooling Type | None |
| Foundation Type | Poured Concrete |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 2 |
| Size Interior | 10,000 Ft2 |
| Utility Water | Municipal Water |
| Access Type | Road Access, Highway Access |
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Municipal Sewage System |
| Size Depth | 108 Ft |
| Size Frontage | 147 Ft |
| Size Irregular | 0.437 |
| Size Total | 0.437 Ac|under 1/2 Acre |
| Size Total Text | 0.437 Ac|under 1/2 Acre |
| Zoning Description | R4 |
https://www.realtor.ca/real-estate/28489185/3071-mosley-street-wasaga-beach
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