182 12th Street

Nestled in the heart of Hanover, at 182 12th Street, this remarkable Multi-Family Home for sale in Hanover presents an exceptional investment opportunity. This impressive multiplex, boasting a three-storey design, offers a unique blend of historic charm and modern conveniences, making it a prime choice for savvy investors. With a cap rate exceeding 7% and ample room for growth, this property is not just a house; it's a lucrative venture waiting to be explored.

The property features six well-appointed bedrooms, providing ample space for tenants, along with two additional dens that can be utilised for various purposes, whether as home offices or extra storage. With a total of 19 rooms, including six kitchens, this Multi-Family Home for sale in Hanover is designed to accommodate a diverse range of living arrangements. The current configuration consists of four one-bedroom units and two two-bedroom units, generating a six-figure income from market-rate rents. This means a fantastic return on investment for those looking to expand their portfolio.

Situated on a generous lot measuring 76 by 132 feet, the building's exterior is constructed from durable brick, which not only adds to its aesthetic appeal but also ensures longevity. While the property does not feature a pool or a fireplace, it does come equipped with wall unit air conditioning to keep residents comfortable during the warmer months. The absence of a central vacuum system and a family room is more than compensated for by the property's other features, including a full basement apartment that adds further potential for rental income.

Located at 182 12th Street, Hanover, this Multi-Family Home for sale in Hanover is strategically positioned close to the Greater Toronto Area (GTA), making it an attractive option for those looking to invest in a property that benefits from both local and regional demand. The area, known for its vibrant community and amenities, offers a range of services and attractions that appeal to a diverse demographic, ensuring a steady stream of potential tenants.

The property was formerly the Hanover Lutheran Church, and it retains a certain historic charm that is hard to find in modern developments. Recent upgrades, including an on-demand hot water system for both domestic use and in-floor heating, have been thoughtfully implemented over the past few years. The addition of updated appliances, electronic deadbolts for enhanced security, and various cosmetic improvements ensure that the building meets the needs of contemporary tenants while preserving its unique character.

Utilities are managed with a split structure, where the landlord covers water and sewer costs, while tenants are responsible for their hydro usage. The main floor and second-level units benefit from gas heating, while the landlord provides in-floor gas heating for the two-level units. This arrangement not only simplifies management but also enhances the overall appeal of the property to prospective renters.

Parking is another highlight of this Multi-Family Home for sale in Hanover, with nine dedicated parking spaces available, ensuring that tenants have convenient access to their vehicles. The absence of a garage or driveway is mitigated by this ample parking provision, which is a significant advantage in a bustling community like Hanover.

In summary, 182 12th Street, Hanover, is a fantastic opportunity for those looking to invest in a Multi-Family Home for sale in Hanover. With its strategic location, impressive income potential, and a host of modern upgrades, this property is a turn-key investment just waiting for you to step in and make it your own. Don’t miss out on the chance to own a piece of Hanover’s history while securing a bright financial future!

Hanover, a vibrant district within the city of Hanover, Germany, offers a unique blend of urban charm and natural beauty. Nestled along the banks of the Leine River, this area is characterised by its picturesque parks, such as the expansive Stadtpark and the serene Maschsee, providing ample opportunities for outdoor activities and leisurely strolls. The neighbourhood boasts a rich cultural scene, with a variety of museums, galleries, and theatres, alongside a diverse selection of cafés and restaurants that cater to all tastes. With excellent public transport links and a welcoming atmosphere, Hanover is an ideal place for those seeking a dynamic yet relaxed urban lifestyle.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find Hanover Heights Community School, just 0.9 km away, offering a public education in English for grades JK to 6 under the Bluewater District School Board. Another nearby option is Dawnview Public School, located 1.3 km from the property, which provides a French-language curriculum for the same grade levels, also under the Bluewater District School Board. For families seeking a Catholic education, Holy Family School is only 0.7 km away, offering an English curriculum from JK to grade 8 under the Bruce-Grey Catholic District School Board. All these schools are within easy reach, ensuring that your children have access to quality education in a variety of languages and educational philosophies. The proximity of these schools enhances the appeal of the property, making it a great choice for families prioritizing education and community engagement.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 610 residents. The average household consists of 2.3 individuals, with a median age of 38.5 years, indicating a relatively young population. The average household income stands at $78,000, with 12% of the population classified as low-income. The housing market reflects an average property price of $480,000, and a significant portion of the community, 55.36%, are renters, suggesting a dynamic rental market. Additionally, 52.04% of residents are single, while 43.75% of households include children, highlighting a mix of family structures. The area has a modest immigrant population of 3.76%, and 38.61% of residents hold a college or university degree, indicating a well-educated community. However, a notable 28.71% of the population is not in the labor force, which may reflect various socio-economic factors. The prevalence of condominiums is low, comprising only 3.57% of the housing stock. Overall, this community presents a blend of demographic characteristics that could appeal to potential buyers or renters seeking a vibrant and diverse living environment.