Welcome to the Red School Apartments in Englehart, ON, where historic charm meets modern living. This meticulously converted 15-unit building, once a bustling schoolhouse, is now a multifamily gem just 2 hours north of North Bay. It combines the allure of northern investment with attractive cap rates and the stability of multi-residential assets. Englehart, known as "The Little Town With the Big Heart," is a vibrant community rich in natural beauty and bustling with activities. Positioned halfway between Kirkland Lake and Temiskaming Shores, the building taps into a diverse workforce from mining, forestry, education, and business support services. This location not only assures steady demand but positions Red School Apartments as a central hub in a town celebrated for its welcoming atmosphere and progressive outlook. The property boasts modern amenities including on-site coin laundry and full TV/internet capabilities, ensuring comfort and convenience. Each unit's appeal is heightened by the town's robust offerings like Kap-Kig-Iwan Provincial Parks scenic trails and a range of local eateries and shops that cater to both families and outdoor enthusiasts. Fully tenanted with a history of high demand upon vacancy, Red School Apartments offers investors a turn-key solution with promising returns. Embrace the opportunity to invest in a property that stands at the crossroads of heritage and modernity, in a town where every season brings its own charm and a community that supports and thrives together.
Extras
Well maintained offering. Sturdy brick construction with a purpose-built interior. Offered at 4.1% cap rate. Centrally located and close to all downtown amenities. Plenty of parking & access to winter plugs.
Surface Rights Only Lt 163 & Pt Lt 164 Pl M65Nb Ev
Occupancy
Tenant
Possession Date
Flexible
Taxes (2024)
$14,247
Tax Type
Annual
Directions/Cross Streets
6th Ave & 3rd St
Area
Timiskaming
Price History
Interested in obtaining the full price history for this property? Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.
Detailed Information
Freestanding
Y
Lot
131.56 x 112.78 ft
Total Area
14,832.65 ft2
Air Conditioning
Part
Garage Type
Outside/Surface
Heat Type
Baseboard
Utilities
Y
Water
Municipal
Lot/Bldg/Unit Code
Lot
Zoning
Multi Res 15 Units
Seller Property Info Statement
N
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