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Main Photo: 488 10th Avenue: Hanover Commercial for sale : MLS®# X14173634
Photo 1: 488 10th Avenue: Hanover Commercial for sale : MLS®# X14173634
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Status:
Active
Prop. Type:
Commercial
MLS® Num:
X14173634
Bus Major:
Apts - 2 To 5 Units
Outstanding investment opportunity awaits you! Whether you're a seasoned investor, or new to investment properties, this could be for you! This building generates a strong rate of return with a fully tenanted commercial unit and two fully tenanted residential units that generates a cap rate over 8%. Updates Included: Flat roof over print shop (2024), Asphalt shingles over main structure (2021), some eaves trough replaced (2024), exterior vinyl siding (2026), furnace approximately 15 years old, newer vinyl windows. 2 car parking, all 3 units are separately metered for hydro, HWT Owned.
Property Type:
Commercial
Property Sub Type:
Investment
Freestanding:
Yes
Approx. Age:
100+
Total Area:
2465 sq. ft. Square Feet
Total Area:
2,465 sq. ft.
Lot Depth:
80'3¼"
Lot Frontage:
30'8"
Lot Shape:
Irregular
Water supply:
Municipal
Zoning:
C1
Heating type:
Baseboard
Clear Height:
7'5"
Survey Available:
No
Garage:
None
Parking Spaces:
2
Trailer Parking Spots:
0
Possession Details:
TBA
HST Applicable To Sale Price:
In Addition To
Type Taxes:
Annual
Taxes:
$3,446.34 / 2026
Assessment:
$- / -
Grey County
Hanover
Hanover
Major Highway
No
None
3 fridges, 2 stoves.
All contents belonging to residential and commercial tenants, printing equipment.
None
No
UFFI:
No
Utilities:
Available
Sewers:
Sanitary
Air Conditioning:
No
Seller Property Info Statement:
No
Physically Handicapped-Equipped:
No
Financial Statements:
No
Expenses Actual/Estimated:
Estimated
Year Expenses:
2026
Major Business Type:
Apts - 2 To 5 Units
Category:
Apartment
Franchise:
No
Days Open:
Varies
Employees:
0
Chattels:
Yes
LLBO:
No
Outside Storage:
No
Seats:
0
Date Listed:
Nov 12, 2026
Original Price:
Previous Price:
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Listed by Royal LePage RCR Realty
Data was last updated November 13, 2026 at 03:15 AM (UTC)
DARYL  KING
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Why Invest in Apartment Buildings for Sale?

Owning an apartment building for sale provides unique advantages:

  • Multiple rental units generate consistent monthly income
  • Economies of scale make property management more efficient
  • Opportunity to increase property value through renovations and upgrades
  • High demand for rental housing in urban and suburban markets

What to Look for in Apartment Buildings for Sale

When evaluating apartment buildings for sale, consider:

  • Vacancy rates and tenant demand in the area
  • Location and proximity to transit, schools, and employment hubs
  • Building condition, age, and potential maintenance costs
  • Current rental income and future appreciation potential

Maximizing Exposure for Your Apartment Building

If you’re selling an apartment building, our platform offers exceptional exposure to a targeted audience of potential buyers. We utilize advanced marketing techniques to highlight the key features and benefits of your property, ensuring it stands out in the market. Our goal is to connect you with interested and qualified buyers efficiently, facilitating successful and profitable transactions.

Start Exploring Apartment Buildings for Sale Today

Whether you’re looking for small multi-family units or larger residential complexes, we offer a wide selection of apartment buildings for sale to match your investment goals. Let us help you find a property that offers steady income and long-term value.

Explore More GTA Homes:

Each link provides updated listings and expert insights.

FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
Yes, apartment buildings provide steady rental income, potential tax benefits, and property value appreciation over time.

2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

3. Can first-time investors buy apartment buildings?
Yes, many financing options are available for new investors, including CMHC-backed loans and commercial mortgages.

4. How many units are considered an apartment building?
Typically, any property with five or more units is classified as an apartment building for investment purposes.

5. Where can I find apartment buildings for sale?
You can find listings across major cities and growing suburbs where rental demand remains strong.