Cash Flow in Timmins! Rare Find: Two Homes on 1 Lot, Duplex + Single Family Accessory Unit:211 Maple St N, Timmins For Sale

Cash Flow in Timmins! Rare Find: Two Homes on 1 Lot, Duplex + Single Family Accessory Unit:211 Maple St N, Timmins

Wholesale Price: $325K (Or Best Offer)
Estimated As-Is Value: ~$355K+
Estimated After Repair Value: ~$390K+

Closing: September 1, 2022

This is a great opportunity to scoop up an undervalued and excellent value add project in one of Northern Ontario’s most stable employment markets. Located in the north end of Timmins, this 3-unit property offers the right mix of wealth creation and cash flow for any investor. This property is fully tenanted, close to schools, public transit and other amenities. The Timmins rental market is very hot and rentals are in high demand due to housing shortages and a booming mining industry. This property has an unused basement in 1 unit that can be converted into more living space or even a separate unit. Check out the pics below and contact Peter today at 647 955 0843 to place an offer or learn more about this opportunity.

211 Maple St N is a rare find: 3 units on 1 property spread over 2 houses. The main house boasts a 2 bedroom unit and a 1 bedroom unit. The back house is a 2 bedroom single family home. There is room for forced appreciation through renovation to the basement of the main house, increasing the value of 1 of the units, or creating a separate unit altogether. Each unit is currently tenanted by long term tenants on month to month lease, and while the unit can cashflow currently, there is money to be made if you are able to turn the units in the main house over as rents are currently well below market. The house has been well looked after, although there has been some leaking in the basement of the main building that will require attention. 

✨Comparables:
🏷382 Maple St N – $360,00 (Sold June 2022)
🏷123 Halleybury Cres – $379,900 (Sold May 2022)
🏷391-399 Murdock Ave – $389,900 (Sold June 2022)

For full information, videos, and photos check out the link below:
https://mailchi.mp/ontariopropertydeals/211-maple-st-n-timmins

✨Call or email Peter for any questions:
📱 647-955-0843
📧 peter@ontariopropertydeals.ca

 

Address:
Timmins
Terms:
For Sale
Property Type:
Multi-family

Call 647-955-0843 for more details