Added 2 months ago
-
Type: Investment
-
Property Type: Commercial
-
Business Type: Apts-6 To 12 Units
-
Zoning: Res 2
-
Age: No Data
-
Taxes: 9296.8
-
MLS®#: X10426701
-
Days on Site: 88 Days
-
Added: Nov 13, 2024 (2 months ago)
-
Updated:
-
Last Checked: 2 hours ago
-
Listed By: Century 21 Northern Choice Realty Ltd., Brokerage
Discover a fantastic investment in a high-demand rental market! This fully occupied 6-unit property is centrally located downtown, ensuring constant tenant interest. The property includes four 1-bedroom units and two 2-bedroom units, with a strong net operating income exceeding $70,000 annually. Each unit is separately metered, with tenants paying their own hydro while the landlord covers garbage & water/sewer cost, keeping costs manageable. Extensive renovations and updates in 2018 and 2019 make this property especially appealing and low-maintenance. Renovations include stripping down to studs, doubling the footprint of the building, a new roof, siding, spray-foam insulation, HVAC, electrical, windows, flooring, bathrooms, doors, drywall/paint, and updated appliances throughout. Each unit also received a new hot water tank in 2018, reducing operational upkeep and enhancing tenant satisfaction. While on-site laundry is not yet available, the plumbing for a shared laundry area is already in place, allowing a straightforward future upgrade to add further convenience for tenants. Tenants enjoy a designated parking lot at the rear of the building, while additional street parking is available out front for guests. The central downtown location puts this property within close reach of shops, dining, public transit, and other local amenities, making it especially attractive to renters seeking easy accessibility. The combination of one-bedroom and two-bedroom layouts appeals to a range of tenants, ensuring high occupancy rates and a steady revenue stream. With its prime location, recent updates, and strong financial performance, this property is an excellent choice for investors seeking a turnkey income-generating asset. The consistent rental demand, modernized features, and individual tenant utility meters make this property both efficient and profitable, ready to provide reliable returns for years to come. **EXTRAS** **Interboard listing: Thunder Bay Real Estate Board**
Extras
**Interboard listing: Thunder Bay Real Estate Board**
Property
Status: Sale
Type: Apts-6 To 12 Units
Property Type: Investment
Property Type: Apartment
Area: Sioux Lookout
Availability Date: Nogotiable
Inside
Air Conditioning: N
Utilities
Utilities: Available
Building
Heat Type: Baseboard
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Covered Parking Spaces: 6
Fees
Tax Year: 2024
Tax Legal Description: Parcel 6075 Section District Kenora Freehold: Lot 12 Plan M220 N
Taxes: $9,297
Taxes Type: Annual
Land
Cross Street: Front Street, betwee
Municipality District: Sioux Lookout
Parcel Number: 420430336
Sewer: San+Storm
Lot Frontage: 0.22 Acres
Zoning: Res 2
Additional Media
- Virtual Tour: https://century-21-northern-choice-realty-ltd.vr-360-tour.com/e/lOQBkwhMltY/e
Commercial Specific
Total Area: 3849.8
Total Area Metric: Sq Ft
Lot Code: Lot
École Immaculée-Conception
Elementary: CatholicÉcole catholique de l'Enfant-Jésus
Elementary: CatholicIgnace Elementary School
Elementary: PublicSioux Mountain Public School
Elementary: PublicSacred Heart Separate School
Elementary: CatholicSt Josephs Separate School
Elementary: CatholicIgnace Secondary School
Secondary: PublicAtikokan High School
Secondary: PublicRed Lake District High School
Secondary: PublicQueen Elizabeth District High School
Secondary: PublicDryden High School
Secondary: PublicFort Frances High School
Secondary: Public