Welcome to 531 Mill Street. This three-storey, 12-unit brick apartment building sits in one of Windsor's ·most reliable rental corridors near the University of Windsor. The well-maintained property features eight 2-bedroom units, two 3-bedroom units, one 1-bedroom unit, and one bachelor suite. Currently 11 of 12 units are tenanted, with one vacant bachelor ready to lease-allowing the new owner to set market rent while stepping into a near-stabilized income property. On-site parking offers added convenience for tenants, and the building is serviced by a functional boiler heating system. Twelve new individual hydro meters· provide separate metering for each unit, reducing landlord utility costs and increasing tenant accountability. An assumable 4.25% fixed mortgage with approximately 9.5 years remaining offers a strong financial advantage in today's rate environment. CMHC-insured, this property provides immediate cash flow and long-term investment potential. Two new rented laundry machines will be installed in the common area with digital payment access for tenants, creating an additional income stream. Contact us today! (id:52874)
| MLS® Number | 26007392 |
| Property Type | Multi-family |
| EquipmentType | Water Heater |
| RentalEquipmentType | Water Heater |
| ExteriorFinish | Brick |
| FlooringType | Hardwood, Laminate, Other, Cushion/lino/vinyl |
| FoundationType | Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Boiler, Radiant Heat |
| StoriesTotal | 3 |
| Type | Multi-family |
| Other | 12 |
| Acreage | No |
| SizeIrregular | 90 Ft Frontage X N/a / 0.291 Ac |
| SizeTotalText | 90 Ft Frontage X N/a / 0.291 Ac |
| ZoningDescription | Rd3.1 |
https://www.realtor.ca/real-estate/29572369/531-mill-street-windsor
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