Get your hands on the cheapest active multi-family listing in Sturgeon Falls, surpassing the 1% rule! This property has unlimited potential with an enormous detached garage that can be rented as 3-4 separate storage spaces (+$200 additional in rent a month), vacant 2 bedroom unit that can be easily converted to 3 bedrooms, and a large tenanted 3 bedroom unit with ample upside once turned around. After turning over this property, cash flow potential is well over $1,000/month. This property is located in a great area of Sturgeon Falls where single family houses trade over $250,000 thus giving investors ample upside potential as well as immediate cash flow.
Get your hands on the cheapest active multi-family and the 2nd cheapest active MLS property listing in Sturgeon Falls with amazing cash flow!
Take advantage of this opportunity to purchase an undervalued cash-flowing duplex in Sturgeon Falls! This property has unlimited potential and is prime for value-add renovations to increase rental income. Converting the large garage into storage and adding additional bedrooms and bathrooms are just a few of the ways to maximize rental income. Once fully turned around; this property has the potential to cash flow well over $1,000/month (see financials).
This property is in a prime residential and highly desirable neighbourhood in Sturgeon Falls. There is an ample mix of home owners and renters in this area, and single family homes trade over $250,000 and even close to $400,000 in this neighbourhood of the area. The property is located within a 5 minute walk to TWO elementary schools, a 13 minute walk to the West Nipissing Hospital, and 8 minute walk to the gorgeous waterfront. This area will attract families around the local area due to the proximity of many important amenities for growing families.
According to the CMHC Oct 2020 consensus, Sturgeon Falls had a vacancy rate of 0.5%, meaning there is ample tenant selection to choose from. Moreover, the property is located between two large city centres (North Bay and Sudbury).
This your opportunity to break in the real estate market with an undervalued property and strong cash-flowing assets with tons of upside potential and in a market with a low vacancy rate. Moreover, there are no bidding wars!