$1,999,000
Available - For Sale
Listing ID: X11883220
6 Algoma St , Wawa, P0S 1K0, Ontario
| Attention Investors! Discover a lucrative multi-family investment opportunity at 6 Algoma Street, Wawa, ON. This well-maintained, fully-tenanted 18-unit property (17 x 2-bedroom, 1 x 1-bedroom) offers significant upside potential with a current 5.98% CAP rate and projected rent increases. Situated on picturesque Wawa Lake, this property benefits from its strategic location at the heart of Northern Ontario's booming mining and forestry industries. Known as a regional hub, Wawa attracts steady economic growth and a vibrant tenant base. Recent upgrades include new flooring, fixtures, and appliances across multiple units, ensuring low maintenance and tenant satisfaction. Shared amenities include updated laundry facilities with new commercial dryers, modernized corridors, and a freshly painted mechanical room featuring a new hot water tank and circulating pump. The property enjoys stable income with room to optimize NOI by leveraging the strong demand for housing in the area. Wawa, with its rich natural resources and infrastructure development, offers a sustainable investment landscape, combining regional economic growth with competitive property appreciation potential. Take advantage of this rare opportunity to achieve excellent cash flow and long-term equity growth. |
| Extras: Upgraded units with new flooring, fixtures, and appliances. Shared areas: new carpets, painted corridors, and an updated mechanical room with a new hot water tank and pump. Fully-tenanted with strong income potential and upside on rents. |
| Price | $1,999,000 |
| Taxes: | $16566.14 |
| Tax Type: | Annual |
| Occupancy by: | Tenant |
| Address: | 6 Algoma St , Wawa, P0S 1K0, Ontario |
| Postal Code: | P0S 1K0 |
| Province/State: | Ontario |
| Legal Description: | PCL 2182 SEC AWS; LT 37 PL M27 MCMURRAY; |
| Lot Size: | 99.00 x 72.00 (Feet) |
| Directions/Cross Streets: | Algoma St & Mckinley Ave |
| Category: | Apartment |
| Use: | Apts-13 To 20 Units |
| Building Percentage: | Y |
| Total Area: | 17200.00 |
| Total Area Code: | Sq Ft |
| Financial Statement: | Y |
| Heat Type: | Baseboard |
| Central Air Conditioning: | N |
| Elevator Lift: | None |
| Water: | Municipal |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ALLOWAY PROPERTY GROUP LTD. |
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Ali Shahpazir
Sales Representative
Dir:
416-473-8225
Bus:
416-473-8225
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At a Glance:
| Type: | Com - Investment |
| Area: | Algoma |
| Municipality: | Wawa |
| Lot Size: | 99.00 x 72.00(Feet) |
| Tax: | $16,566.14 |
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