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. (id:4069)
Address
18 WELLINGTON STREET W
List Price
$800,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Area
Ontario
Sub-Area
Sault Ste Marie (west)
Floor Area
3,000 Sq. Ft.
Lot Size
110 x 120 FT Sq. Ft.
MLS® Number
X12107273
Listing Brokerage
RIGHT AT HOME REALTY
Postal Code
P6A1H1
Zoning
B3S
