16 Ramore Street
Cambridge
(once loaded - click on Main Photo to go through slide show of photos)
Offered at: $789,800.00
2018 Property Taxes: $4,900 Estimated
Lot Size: 65' x 110' x 60' x 34' x 17' x 75'
Possession Date: Immediate
CENTURY STONE BUILDING converted to FOURPLEX.
Building and grounds have been impeccably maintained and upgraded. All is in superb condition.
Stone building is loaded with character and charm. Some exposed stone walls and lots of lovely natural wood trim including some 18" baseboards, plaster crown mouldings, large windows and original exposed fireplaces (not working - had been covered over by previous owner) are some of the features. Covered porch across the rear of the building offers outside covered lounging space for units 3 and 4. Storage underneath including organized space for garbage and recycling. Lawn area at the front.
Owners suite is charming with exposed stone walls and beams. Lots of large windows make this a bright space. Cosy gas fireplace for winter. 2 bedrooms, 2 bathrooms (ensuite). 2nd bedroom used as dining room. (Could be split into a one bedroom and bachelor).
3 spacious one bedroom suites, each with its own character (one vacant).
New metal roof in 2015 ($22,000).
Gas heat. Updated mechanics.
“The Doghouse” is a great shed (16' x 8') with workshop. Metal roof matches the house. Hydro. Couple of windows.
Good storage in basement. 6' ceiling. Potential for workshop space.
Exterior of property has been developed to be very functional and offers tidy, organised space all around. Large retaining wall on the south side with interlocking walkway around the end of the house plus stone steps from Ramore Street up to the front of the building was all done 3 years ago at great expense ($30,000+/-). The north side has a walkway to unit 2 entrance and continues around to the back and up steps to the parking area. Barnboard lean-to at front leads to the basement. Lovely landscaped hill at the front with armour stone retaining wall also done 3 years ago.
Paved driveway access is via Right of Way off Gilholm Lane at the rear which runs between Cedar Street and Gilholm Street. Paved parking for 4 vehicles +.
Your tenants will enjoy a wide selection of activities close by, located in the heart of the Historic District of West Galt and walking distance to the Grand River trails, Downtown Galt, many local restaurants, the new "Gaslight District", the library, churches, shopping and The Hamilton Family Theater.
No pets have resided in this building for over 20 years.
SUITE #1
East facing suite catches the morning sun. Large open concept living space. Large bedroom and bathroom. Steel entrance door with window.
Living Room (18' x 11'). Broadloom. Huge stone fireplace (non working) is great showpiece with original stone hearth. Large east facing window.
Eat-in Kitchen (15 ½' x 13 ½'). Vinyl floor. Modern white cabinetry and single stainless steel sink. Tiled backsplash. Fridge and electric 24" stove included. Large coat closet. Large east facing window.
Updated 4 piece bathroom. Vinyl floor. Deep soaker tub with combination shower has tiled walls. Window. Single vanity with 1 piece porcelain top with integrated sink. GFCI receptacle. Toilet. Built-in cabinets for storage.
Bedroom (14 ½' x 11 ½'). Broadloom. Two windows. Walk-in closet (11 ½' x 4').
Very nice well kept apartment.
SUITE #2
One bedroom apartment with incredible living room. Large coat closet at entrance. Presently vacant.
Living Room ( 15 ½' x 14'). Restored to original condition. 18" tall baseboards! Ceiling is 10'2" adorned with plaster crown mouldings. Original fireplace is sealed but great feature! Pine floors. Two large windows for lots of light and great cross breeze.
Eat-in Kitchen (10' x 10'). Laminate floor. Modern cabinets. Fridge and 24" electric stove included. Nice backsplash.
Updated 4 piece Bathroom with combination tub/shower with tiled walls. Laminate floor. Single vanity with GFCI receptacle. Toilet. Large medicine cabinet built-in on wall. Window.
Bedroom (10' x 10'). Broadloom. Closet. Large window.
Excellent apartment in excellent condition.
SUITE #3
9 ½' ceiling throughout. Least fixed up of the apartments is still modern and functional and well kept. Long term tenant of over 20 years is great help around the property.
Living Room (15 ½' x 11'). Pine floor. Two large windows for great cross breeze. Ceiling fan.
Cosy Eat-in Kitchen (10' x 8'). Vinyl floor. Modern cabinetry with single sink. Fridge and stove included. Large window.
Small 4 piece Bathroom with combination tub and shower with tiled walls. Vinyl floor. Older toilet and single vanity.
Bedroom (13 ½' x 11 ½'). Pine floor. Walk-in closet. Large window.
Coat closet by the entrance.
SUITE #4
Owners - 2 bedrooms & 2 bathrooms
Coat closet by entrance.
Living Room (14' x 11'). Beautiful room has 3 large windows bringing in lots of natural light. Exposed stone walls and original stone fireplace highlight this room. Gas fireplace insert and plush, dense broadloom make this a cosy room.
Dining Room (10' x 9'). Broadloom. Closet. Large window.
Kitchen (10' x 6'). Vinyl tiled floor. White cabinets with double stainless steel sink. Fridge and 24 ‘ stove included.
3 piece Bathroom. Vinyl floor. Glass shower stall with tiled walls. Exhaust fan. Single vanity with one piece porcelain sink and counter top. GFCI receptacle. Ample storage. Toilet.
Bedroom (14' x 10'). Broadloom over pine floor. Large window with a view. Exposed rafters in ceiling. Exposed stone wall. Ceiling fan. Ladder up to loft.
Loft (18 ½' x 7 ½'). Ladder access. Access to attics from here.
3 piece Ensuite Bathroom. Corner glass shower style with tiled walls. Exhaust fan. Toilet. Single vanity. Linens cupboard.
Small kitchenette has single sink and couple of cabinets.
Two entrances. Could be split into a one bedroom plus a bachelor unit. Bachelor unit would be the master bedroom with 3 piece ensuite plus a small kitchenette and separate entrance. The dining room would become the bedroom for the one bedroom unit. The hall from the living room to the master bedroom can have a partition installed and both suites will have gained a closet on either side of the new partition.
BASEMENT
Lots of space for storage. 6' ceiling. Potential for workshop space. Insulated.
MECHANICS
Two storey stone building constructed around 1897. 2800 square feet on two levels. Partial basement has lots of room for storage and potential workshop. Stone foundation walls. Windows replaced. New metal roof in 2015.
Heating consists of two forced air heating systems with gas fired furnaces. One system heats the two upper units (3 and 4) and is located in the attic with access from unit 4's loft (replaced in 2010). The other heats the two lower units (1 and 2) and is located in the basement (new in 2008). The corresponding units split the gas bill. 3rd gas meter covers the water heater and gas fireplace in unit 4. All ductwork running through the attic is wrapped in insulation.
Basement walls insulated with spray foam 4' down all the way around. 15" of insulation blown into attic in 2010.
95% of plumbing replaced. Water heater rented from ‘Reliance’ for $32 per month. New in 2016. 3/4"supply lines for hot and cold to each apartment. New 1" water line from street into building was installed around 2010. One water meter is paid by the owner.
Grounded, copper wiring throughout to best of seller’s knowledge. All knob and tube has been removed. 4 separate meters. Unit 4 electrical panel includes hall lite where electrical meters are located plus rear outside lights plus “The Doghouse” (shed and workshop).
Carbon monoxide/smoke detectors in all units.
Water softener is rented from ‘Reliance’ and was installed in 2017. Rents for $25 per month.
INCOME / EXPENSES
Rent Annually $41,300
Expenses Annually $10,850
Net Income $30,450
All measurements are approximate
Every attempt has been made to ensure the information in this brochure is accurate. However, the information is not to be relied upon and should be verified independently.
For further information please call JIM HOLMES Broker, Holmes Real Estate Services Inc., Brokerage at 519-740-8080. MLS 30647133
Copyright 2018 Holmes Real Estate Services Inc. Brokerage. No part may be reproduced without consent of copyright holder.