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West Market Lofts 228 Mcconnell St

62 Unit Apartment Building $18,486,917 USD ($298,176 USD/Unit) 6.64% Cap Rate Exeter, ON N0M 1S3

Investment Highlights

  • Retail amenities nearby
  • Ample parking
  • Natural light exposure
  • Access to highway
  • New construction building

Executive Summary

Introducing a new property located in the heart of Southwestern Ontario, offering an ideal investment opportunity. This property consists of 64 units, including 22 one-bedroom, 36 two-bedroom, 4 three-bedroom apartments, and 2 commercial spaces. Each residential unit is equipped with a washer and dryer, the property is pet-friendly and features ample parking, making the property a desirable option for a wide range of tenants.
Situated just an 8-minute drive from Exeter Golf & Country Club and a 4-minute drive to Morrison Dam Conservation, this location is perfect for those who appreciate outdoor activities. The property is also close to essential amenities, including Exeter Public School, South Huron District High School, South Huron Hospital, Seaforth Community Hospital, MacNaughton Park Scenic Gardens, and Ironwood Golf Club. Public transportation is accessible, with Huron Shore Area Transit providing bus services that connect to Sarnia, Grand Bend, and London. The nearest bus stop is less than a 20-minute walk away. Additionally, the property is conveniently located approximately 300 meters from the nearest grocery store, 840 meters from the nearest park, and less than 1.8 kilometers from the nearest school.

Property Facts

Price $18,486,917 USD
Price Per Unit $298,176 USD
Sale Type Investment
Cap Rate 6.64%
No. Units 62
Property Type Multifamily
Property Subtype Apartment
Apartment Style Mid Rise
Building Class B
Lot Size 1.10 AC
Building Size 70,000 SF
Average Occupancy 100%
No. Stories 4
Year Built 2022
Parking Ratio 1.49/1,000 SF

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Oven
  • Tub/Shower

Site Amenities

  • 24 Hour Access
  • Controlled Access

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 35 - -
2+1 25 - -
2+2 2 - -

zoning

Zoning Code Commercial & Residential (Commercial & Residential)
Commercial & Residential (Commercial & Residential)
  • Listing ID: 34019291

  • Date on Market: 11/27/2024

  • Last Updated:

  • Address: 228 Mcconnell St, Exeter, ON N0M 1S3

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