Property Details
510 VALOIS DRIVE, Mattawa, Ontario, P0H1V0
Sales Representative
REALTY EXECUTIVES Local Group Inc., Brokerage - North Bay
Cell: 705-499-8383
$1,050,000 - For sale
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:2471)
Location DescriptionCross Streets: Hwy 17E or Champlain St. ** Directions: Follow Hwy 17 E. to Mattawa and continue to just past the roundabout. Property is at the corner of Hwy 17E & Champlain St.
- Property Address:510 VALOIS DRIVE, Mattawa, Ontario, P0H1V0
- Property Type:Multi-family
- Community Name:Mattawa
- Lot Size:0.4 ac
- Water Type:Municipal water
- Parking Space Total:2
- Structure Style:Multi-Family
- Bathrooms:8
- Floor Space:6142 sqft
- Heating Type:Natural gas, Forced air
- Cooling Type:Fully air conditioned
- Rental Equipment:Water Heater, Water Heater - Tankless
- Amenities Nearby:Highway, Ski hill
Sales Representative
REALTY EXECUTIVES Local Group Inc., Brokerage - North Bay
Cell: 705-499-8383
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- Map 510 VALOIS DRIVE, Mattawa, Ontario, P0H1V0
- Neighbourhood Information
510 VALOIS DRIVE, Mattawa, Ontario, P0H1V0
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