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$800,000
Est. payment /mo
3,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Price per Sqft $266
Subdivision West
MLS Listing ID X12107273
Annual Tax Amount $6,504
Tax Year 2024
Property Sub-Type Investment
Property Description
Incredible opportunity to own this well-maintained, all-brick 5-unit purpose-built apartment building, ideally located at the base of North Streetjust steps from the waterfront, scenic boardwalk, shopping plazas, and a wide range of amenities. The building features 2 spacious two-bedroom units and 3 one-bedroom units, with two units currently vacantoffering immediate upside through market rent potential. At current market rents, the property is capable of generating nearly a 10% cap rate. Additional income is generated through a coin-operated washer and dryer. A large, paved parking lot provides ample tenant parking. Recent updates include a new high-efficiency gas furnace and cosmetic upgrades in several units, including fresh paint and updated trim. The basement features a wide open layout with plenty of space, ideal for additional paid tenant storage or future development opportunities.
Location
Province ON
County Algoma
Community West
Area Algoma
Interior
Cooling No
Exterior
Utilities Available Yes
Lot Frontage 110.0
Lot Depth 120.0
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Listed by RIGHT AT HOME REALTY
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