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Est. payment | /mo
22 Beds
11 Baths
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Est. payment | /mo
22 Beds
11 Baths
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
Subdivision Central
MLS Listing ID X14103574
Style Bungalow-Raised
Bedrooms 22
Annual Tax Amount $26,832
Tax Year 2026
Property Sub-Type Multiplex
Property Description
This 11-unit residential purpose-built comples delivers immediate cash flow and stands out as a turnkey investment opportunity with strong cash flow and significant principal recapture after mortgage payments. Located on a quiet street just off Algonquin Ave., the property consists entirely of eleven 2-bedromm units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financail perspective, the asset generates a gross rental invome of $273,436 with estimated operating expenses of $80,979 (inclusive of management, vacancy, and maintenance), resulting in a solid net income before financing of $192,457 and a highly competitive 6.52% cap rate. Features include hot water boiler system, secure security doors, and 15 dedicated spaces, while the utility framework structures all rents plus hydro. Adding to it's long-term tenant appeal, the building is situated within easy walking distance of local shopping, neighborhood restaurants, and the main bus route on Algonquin Ave itself. Please note that the listing photos provided were taken previous to the tenants moving into the units.
Location
State ON
County Nipissing
Area Nipissing
Zoning RM1
Rooms
Family Room Yes
Basement None
Kitchen 11
Interior
Interior Features Water Heater
Cooling None
Inclusions 11 Fridges, 11 Stoves, Washer & Dryer
Exterior
Exterior Feature Controlled Entry, Year Round Living
Parking Features Private
Pool None
Roof Type Flat,Tar and Gravel
Lot Frontage 125.0
Lot Depth 96.0
Total Parking Spaces 15
Building
Foundation Concrete Block
Others
Senior Community No
ParcelsYN No
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
Nearby Locations