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$ 999,900
Est. payment /mo
Price Dropped by $50K
510 VALOIS DRIVE Mattawa, ON P0H1V0
8 Baths
6,142 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 6142
Square Footage 6,142 sqft
Price per Sqft $162
Subdivision Mattawa
MLS® Listing ID X12717242
Lot Size 0.400 Acres
Acres 0.4
Property Description
Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? 8% cap rate including vacancy, maintenance and management expenses. This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments. With interior existing unused space, there's potential to add 2 additional 1-bedroom units-a built-in value-add opportunity. Unit 4 is currently under-rented, providing additional upside. Most units have already seen upgrades and are occupied by great tenants. Recent capital improvements include new weeping tile (2023) on the north and east sides, resolving previous water penetration concerns. The original structure features a solid rock foundation, while the addition (c. 1987) provides a purpose built 6 unit addition. Other highlights include a double garage with an attached outbuilding for extra storage, two furnaces, two A/C units, and two hot water on-demand rental systems. Each unit has its own hydro panel and current rents are all-inclusive. Roof shingles are in excellent condition (age unknown).The location is unbeatable being located right beside the new OPP station, and within walking distance to downtown amenities including the Beer Store, LCBO, restaurants, and the Mattawa River just a couple of blocks away. Management company willing to stay on (I am part ower of that company with my son) (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Fully air conditioned
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 2
Private Pool No
Others
Virtual Tour https://youtu.be/2HR7p_E9ge4?si=BW3Xz4QyE9DNBeZ7
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
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