REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,155,000
Est. payment | /mo
$ 1,155,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
MLS Listing ID X12342684
Annual Tax Amount $18,285
Tax Year 2025
Property Sub-Type Investment
Property Description
Great 1st time apartment investor building. 2 storey frame asset former motel converted into rental apartments. Fully occupied with 10 suites renovated and affordable rental. 17 suites with about $200,000 spent. 7% cap rate on asking price and $67,000 per suite which is way below replacement costs. Baseboard electric heating. Large site with ample parking. Potential to sub meter hydro moving forward. Owner pays cable and internet and this could be reduced on turnover.
Location
Province ON
County Algoma
Area Algoma
Interior
Cooling No
Exterior
Utilities Available Available
Lot Frontage 126.69
Lot Depth 254.69
Others
Security Features No
ParcelsYN No
Listed by COMMERCIAL FOCUS REALTY INC.
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "