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Key Details
Sold Price $955,000
Property Type Multi-Family
Sub Type Multiplex
Listing Status Sold
Purchase Type For Sale
Approx. Sqft 5000 +
MLS Listing ID X9233421
Sold Date 01/09/25
Style 2-Storey
Bedrooms 9
Annual Tax Amount $17,000
Tax Year 2024
Property Sub-Type Multiplex
Property Description
A prime investment opportunity, this well-maintained building offers close to 9,000 sq. ft. of rentable space. The main floor, currently vacant and zoned commercial, awaits your vision. The second floor features 9 residential 1 bedroom apartments, each generating $1,180/month in rent plus heat and electric. With a current monthly income of $10,620, the property is occupied by quality tenants, fostering a safe and secure community. Recently rebuilt with engineering and city permits, encapsulating masonry, windows, framing, electrical, plumbing, fire-rated drywall, and insulation. The building also features separate meters and minimal maintenance. This property offers security in a highly attractive cap rate alongside robust cash flow. Priced to sell.
Location
Province ON
County Algoma
Area Algoma
Rooms
Family Room Yes
Basement Full
Kitchen 9
Interior
Interior Features None
Cooling None
Exterior
Parking Features Private
Pool None
Roof Type Flat,Asphalt Rolled
Lot Frontage 64.0
Lot Depth 136.0
Total Parking Spaces 9
Building
Foundation Stone
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