Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? 8% cap rate including vacancy, maintenance and management expenses. This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments. With interior existing unused space, there's potential to add 2 additional 1-bedroom units-a built-in value-add opportunity. Unit 4 is currently under-rented, providing additional upside. Most units have already seen upgrades and are occupied by great tenants. Recent capital improvements include new weeping tile (2023) on the north and east sides, resolving previous water penetration concerns. The original structure features a solid rock foundation, while the addition (c. 1987) provides a purpose built 6 unit addition. Other highlights include a double garage with an attached outbuilding for extra storage, two furnaces, two A/C units, and two hot water on-demand rental systems. Each unit has its own hydro panel and current rents are all-inclusive. Roof shingles are in excellent condition (age unknown).The location is unbeatable being located right beside the new OPP station, and within walking distance to downtown amenities including the Beer Store, LCBO, restaurants, and the Mattawa River just a couple of blocks away. Management company willing to stay on (I am part ower of that company with my son) (id:47421)
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Detailed Information
Bedrooms
15
Bathrooms
8
Lot
132 x 171.33 ft
Amenities Nearby
Beach, Hospital, Schools
Community Features
Fishing, School Bus
Equipment
Water Heater, Water Heater - Tankless
Features
Irregular lot size
Listing Contract Date
2026-01-20
Location Description
Cross Streets: Highway 17 E at Champlain. ** Directions: Follow Hwy 17 E. to Mattawa and continue to just past the roundabout. Property is at the corner of Hwy 17E & Champlain St.
# of Parking Spaces
22
Property Type
Multi-family
Rental Equipment
Water Heater, Water Heater - Tankless
Transaction Type
For sale
Zoning Description
Residential Type 2 (R2-26)
Building
Age
51 to 99 years
Appliances
Water Heater - Tankless, Stove, Refrigerator
Basement Development
Other, See Remarks
Basement Type
N/A (Other, See Remarks)
Cooling Type
Central air conditioning
Exterior Finish
Vinyl siding
Fire Protection
Smoke Detectors
Foundation Type
Stone, Block
Heating Fuel
Natural gas
Heating Type
Forced air
Stories Total
2
Type
Other
Utility Water
Municipal water
Parking Spaces
Name
Spaces
Detached Garage
Garage
Utilities
Type
Description
Electricity
Installed
Sewer
Installed
Land
Total Size
132 x 171.4 FT
Amenities
Beach, Hospital, Schools
Sewer
Sanitary sewer
Size of Irregular Land
132 x 171.4 FT
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