350 St Philippe St

Investors, take note! This fantastic 4-plex commercial-residential mixed-use building in Alfred offers a net income of approximately $38,000, equating to an 8% cap rate. All four units are currently rented, with the main floor housing a commercial unit leased to a pizzeria at $1,715/month (before HST, plus hydro, natural gas, and propane). The main floor also features a 2-bedroom apartment ($945/month plus heat and hydro) and a bachelor unit ($478/month, hydro included). The second floor boasts a large 2-bedroom unit ($815/month plus heat and hydro), with an expansive unfinished space that could be added to the pizzeria or repurposed for other uses (subject to local authority verification). The property includes five hydro meters and three gas meters, with the seller covering the hydro for the bachelor unit. This is a solid income-generating investment in a prime location!