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$759,000
Est. payment /mo
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Other
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
Subdivision Sturgeon Falls
MLS Listing ID X12011514
Style 3-Storey
Building Age 100+
Annual Tax Amount $6,412
Tax Year 2024
Property Sub-Type Other
Property Description
Outstanding investment opportunity in the heart of Sturgeon Falls! This fully tenanted mixed-use property at 173 King St. features 2 commercial units and 6 residential apartments, generating a total of $98,302.08 in annual income with a solid 8.66% ROI.Commercial Units: Unit A Office cleaning company. Lease extended through July 1, 2025. Tenant pays hydro. Rent: $898/mo (with HST), increasing to $920.45/mo after renewal. Unit B Accountants office. All-inclusive 5-year lease from May 2022 to May 2027 with 5% annual increases. Current rent: $957.74/mo (with HST).Residential Units: 1-Bedroom (tenant pays hydro & heat): $741.74 4-Bedroom (all-inclusive): $1,938.00 Bachelor: $785.15 3-Bedroom (tenant pays hydro & heat): $948.71 Basement Apartment: $1,000.00 Bachelor: $922.50Property is fully leased with a mix of all-inclusive and tenant-paid utility arrangements. Excellent tenancy, stable cash flow, and prime location make this an ideal addition to any portfolio.Extras: Some residential units include laundry.
Location
Province ON
County Nipissing
Community Sturgeon Falls
Area Nipissing
Rooms
Basement Apartment
Kitchen 0
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Available
Pool None
Roof Type Asphalt Shingle
Total Parking Spaces 12
Building
Unit Features Lake/Pond,Park
Foundation Concrete Block
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Listed by KELLER WILLIAMS REFERRED URBAN REALTY