$657,900

For sale

26 Spring Street, West Nipissing (Sturgeon Falls) - Multi-family for Sale

26 Spring Street, West Nipissing (Sturgeon Falls), Ontario, P2B3G7

8 beds4 baths8 parking3,250 ft²88 × 132 ft (11,616 sq ft) lot sizeListed 20 days ago

Overview

This multi-family property in West Nipissing is for sale offering roughly 3,250 sq ft of space. It has been on the market 20 days, fresher than the West Nipissing average of 89 days.

Multi-Family Properties for Sale in West Nipissing →All real estate in West Nipissing →

Description

Well-Maintained Legal 4-Plex with nice updates! This property features four spacious 2-bedroom units, each separately metered for hydro. Every unit offers the convenience of in-suite laundry and comes with dedicated parking spaces. With reliable tenants in place and low-maintenance utilities, this is an excellent opportunity to expand your investment portfolio with a solid, income-generating property. Gross income $78,623, Net Income before mortgage ( expenses: tax, gas, hydro, vacancy, maintenance, management, water, insurance) is $54,708 leaving a solid 8.05% Cap rate. Unit 1 is currently vacant and on the market to rent. (id:66096)

Property Details

MLS®: X14081352
Property Type: Multi-family
Zoning: R2
Bedrooms: 8
Beds (above / below): 8 above · 0 below
Bathrooms: 4
Parking: 8
Interior Size: 3,250 ft²
Lot Size: 88 × 132 ft (11,616 sq ft)
Frontage: 88 ft
Storeys: 2
Basement: None
Heating: Forced air, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $3,440/yr
Listed: 20 days ago

Features

Appliances: Washer, Refrigerator, Stove, Dryer, Water Heater
Foundation: Concrete
Exterior: Vinyl siding

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

20d

West Nipissing (Sturgeon Falls) listings, avg age

89d

Price / ft²

$202

List price

$658K

Haho

This 8-bed multi-family in West Nipissing (Sturgeon Falls) has been listed for 20 days, which is 69 days fresher than the city average of 89. Act while there is still low competition.

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Listed by REALTY EXECUTIVES Local Group Inc. Brokerage · MIKE BURMAN

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P2B)

This home lists at $657,900, about 10.0× the local median household income of $66,000.

Carrying it typically needs a household income of about $128,511 (20% down, 25-yr amortization, stress-tested) — roughly 95% above the area median.

Median household income: $66,000
Population: 9,754
Median age: 50.4
Owner / renter: 60% / 40%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA P2B)

$657,900· $202/ft²

For sale

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Full Cost Breakdown

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Down Payment6.20% · $40,790

Min 6.20%50%

Mortgage payment$3,421/mo

↳ CMHC premium ($24,684 capitalized)

Property tax (est.)$287/mo

Total monthly$3,708

Cash Needed to Close

Down payment (6.20%)$40,790

Land transfer tax$9,633

Est. closing costs$4,474

Total cash needed$54,897

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