6 Algoma Street, Wawa | Image 1

6 Algoma Street

Wawa

  • Commercial

$1,999,000
For Sale

Added 2 weeks ago

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  • Type: Investment

  • Property Type: Commercial

  • Business Type: Apts-13 To 20 Units

  • Zoning: Ra*3

  • Age: No Data

  • Taxes: 16566.14

  • MLS®#: X11883220

  • Days on Site: 3 Days

  • Added: Dec 05, 2024 (2 weeks ago)

  • Updated:

  • Last Checked: 2 hours ago

  • Listed By: ALLOWAY PROPERTY GROUP LTD.

Attention Investors! Discover a lucrative multi-family investment opportunity at 6 Algoma Street, Wawa, ON. This well-maintained, fully-tenanted 18-unit property (17 x 2-bedroom, 1 x 1-bedroom) offers significant upside potential with a current 5.98% CAP rate and projected rent increases. Situated on picturesque Wawa Lake, this property benefits from its strategic location at the heart of Northern Ontario's booming mining and forestry industries. Known as a regional hub, Wawa attracts steady economic growth and a vibrant tenant base. Recent upgrades include new flooring, fixtures, and appliances across multiple units, ensuring low maintenance and tenant satisfaction. Shared amenities include updated laundry facilities with new commercial dryers, modernized corridors, and a freshly painted mechanical room featuring a new hot water tank and circulating pump. The property enjoys stable income with room to optimize NOI by leveraging the strong demand for housing in the area. Wawa, with its rich natural resources and infrastructure development, offers a sustainable investment landscape, combining regional economic growth with competitive property appreciation potential. Take advantage of this rare opportunity to achieve excellent cash flow and long-term equity growth.

Extras

Upgraded units with new flooring, fixtures, and appliances. Shared areas: new carpets, painted corridors, and an updated mechanical room with a new hot water tank and pump. Fully-tenanted with strong income potential and upside on rents.

Property

  • Status: Sale

  • Type: Apts-13 To 20 Units

  • Property Type: Investment

  • Property Type: Apartment

  • Area: Wawa

  • Availability Date: Flexible

Inside

  • Air Conditioning: N

Utilities

  • Utilities: Available

Building

  • Heat Type: Baseboard

  • Elevator: None

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: None

Fees

  • Tax Year: 2024

  • Tax Legal Description: PCL 2182 SEC AWS; LT 37 PL M27 MCMURRAY; MICHIPICOTEN

  • Taxes: $16,566

  • Taxes Type: Annual

Land

  • Cross Street: Algoma St & Mckinley

  • Municipality District: Wawa

  • Parcel Number: 311690353

  • Lot Depth: 72 Feet

  • Lot Frontage: 99 Feet

  • Zoning: Ra*3

Commercial Specific

  • Total Area: 17200

  • Total Area Metric: Sq Ft

  • Lot Code: Lot

  • Financial Statement: Y

Map of 6 Algoma Street, Wawa
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