✅ Wholesale Price: $235K OBO
✅ Estimated As-Is Value: ~$280K
✅ Estimated After Repair Value: ~$370K+
✨Closing: February 12th, 2022
Get your hands on the cheapest active listing in Sturgeon Falls in a quiet neighbourhood and with easy BRRRR potential. Best of all, this property is a multi-family property, available at a price cheaper than many single family homes in this location. Located right across the waterfront with no house in front of it, this property provides for gorgeous unobstructed views and large double lot, making it a rare find and desirable for tenants and homeowners alike. There are also multiple Airbnbs in average condition (units, not houses) available near the waterfront renting at over $100 per night. This property is perfect for first time investors or investors with a limited budget looking to break into the market with a multi-family that cash flows, has Airbnb potential, and allows for strategic renovations potential. Sturgeon Falls is in the West Nipissing district, nestled between Sudbury and North Bay.
This property is located across the waterfront in Sturgeon Falls with unobstructed views as there are no neighbours in front of it. There is an ample mix of home owners and renters in this area, and single family homes trade over $250,000 with even a single family home 1 minute away selling for upwards of $400,000. This property is less than 5 minutes walk to the several retail and local restaurants, banks and other services in the downtown area.
There are no direct comparable properties that are multi-family and along River Street (waterfront) area.
131 Ottawa St- $345,000 (Sold Aug 2021)
61 Main St- $340,000 (Sold Nov 2021)
25 William St- $441,000 (Sold Nov 2021)
111 Holditch St- $500,000 (Sold Nov 2021)
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