This is an amazing opportunity to purchase a significantly discounted 6plex for less than 100k per unit in Sudbury and in one of the best cash-flowing real estate markets in Canada! Less than 10 minute walking distance to schools, parks, and places of worship.
This is an extremely rare opportunity to purchase a cash-flowing multi-family property for less than 100k a unit in a hot real estate market.
This 6plex is located at 461 Montague Avenue near the border of Cambrian Heights, where the majority of the houses are new developments and newer builds, and at the very northern tip of the Donovan area. This location is further away from the main pocket of Donovan and closer towards the Cambrian Heights neighbourhood. This multi-family is located right beside Victory Park, is only a 2 minute walk to St David Catholic School, a 6 minute walk to the Northern Muslim Association, and a 4 minute walk to the Grace Family Church. Moreover, this property is less than a 10 minute walk to local popular restaurants and retail stores. This property is a great potential BRRRR project for investors.
This 6plex provides for huge potential with 1 vacant unit to set your own rents, and each tenant paying their own hydro. One unit is currently tenanted by a student who has finished his studies and has shown interest in vacating his unit soon as well (not guaranteed). One unit is tenanted by a chronically ill individual who has advised they will be moving out of their unit to move back home (not guaranteed). Thus there is potential for half vacant units within weeks of possession. Potential as-is cash flow is well over $1,000 a month, with upside cash-flow after turning around all the units to be $2,900+ a month. For information on the financials, check out the Photos/Videos/Financials section of this email.
The market for entry-level properties homes in Sudbury is hot right now, with significant price appreciation 15% Year-over-Year, constant bidding wars and most homes going over asking.