511 Devonshire Rd

Looking for an incredible investment opportunity that offers an over 11% direct cap rate, over 20% Return on Equity and contributes to the overall housing crisis in Ontario--look no further, this is the one. As an owner operator, in partnership with the City of Windsor, you will provide supportive housing services to individuals who are at risk of being homeless. This recession proof business/operation provides subsidized financial support via a license with the City of Windsor as well as private supportive housing services to individual tenants. Licensed for 32 beds (17 subsidized with the City of Windsor plus 15 private beds) this facility/operation has an over 95% occupancy rate and strong financials. With approximately 4656 sq ft of well-maintained interior and exterior features this property boasts the following: 11925 sq ft lot (119x110), newer windows (main and 2nd floor), updated roof (5 yrs), sprinkler system, 6 washrooms, forced air heating and cooling, 200 amp service panel and 10 bedrooms (shared). Conveniently located in Windsor's historic Walkerville neighborhood, this property offers seamless access to public transit right at your doorstep and is well-connected to major roads.The City of Windsor designates the property part of the Commercial District area that permits both residential and neighbourhood commercial uses. The zoning By-law classifies 511 Devonshire Road as CD1.3.