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Mattawa,ON P0H 1V0
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
Subdivision Mattawa
MLS Listing ID X12396504
Style 2-Storey
Bedrooms 15
Building Age 16-30
Annual Tax Amount $8,291
Tax Year 2024
Property Sub-Type Multiplex
Property Description
Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments. With existing unused space, there's potential to add two 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 further stability and functionality. Additional 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.
Location
Province ON
County Nipissing
Community Mattawa
Area Nipissing
Zoning Residential Type 2 (R2-26)
Rooms
Family Room Yes
Kitchen 8
Interior
Cooling Central Air
Inclusions 8 fridges, 8 stoves, coin op laundry, Carbon Monoxide Detector, Smoke Detector
Exterior
Exterior Feature Year Round Living
Parking Features Other
Garage Spaces 2.0
Pool None
Roof Type Asphalt Shingle
Building
Foundation Concrete Block,Stone