Modernized four-unit building features three 2-bedroom units & one 1-bedroom unit, each equipped with in-suite laundry and individually metered for hydro, ensuring streamlined operations and predictable expenses. Net annual income of $50,796 (after management, vacancy, & maintenance fees). Gross annual income of $72K, this turn-key asset offers solid returns. Double the rental income by adding four more units makes this a strategic investment! The property is zoned R3, includes a substantial side lot, offering the potential to build an additional 4-plex—positioned to get a permit and start building plans! Located on a desirable corner lot in Sturgeon Falls, close to essential amenities such as parks, restaurants, shopping, and the Upper Sturgeon River, it attracts professional tenants. . Potential vendor take-back (VTB) financing available, this property presents a compelling opportunity for investors and builders looking to capitalize on future growth. (id:47423)
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Detailed Information
Bedrooms
7
Bathrooms
4
Lot
66 x 115 ft
Amenities Nearby
Hospital, Park, Place of Worship, Playground, Schools, Shopping
Community Features
Community Centre, School Bus
Listing Contract Date
2024-07-22
Location Description
Front St, South on Holditch, corner of Holditch and John
Ownership Type
Freehold
# of Parking Spaces
6
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
R3
Building
Basement Development
Unfinished
Basement Type
Partial (Unfinished)
Constructed Date
1920
Cooling Type
None
Exterior Finish
Vinyl siding
Foundation Type
Stone
Heating Fuel
Electric
Heating Type
Baseboard heaters
Stories Total
2
Type
Fourplex
Utility Water
Municipal water
Land
Total Size
under 1/2 acre
Amenities
Hospital, Park, Place of Worship, Playground, Schools, Shopping
Sewer
Municipal sewage system
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