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$ 1,050,000
Est. payment /mo
New
510 Valois DR Mattawa, ON P0H 1V0
8 Baths
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision Mattawa
MLS Listing ID X12717242
Annual Tax Amount $8,291
Tax Year 2025
Property Sub-Type Investment
Property Description
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)
Location
Province ON
County Nipissing
Community Mattawa
Area Nipissing
Zoning Residential Type 2 (R2-26)
Interior
Cooling Yes
Inclusions 8 fridges, 8 stoves, coin op laundry, Carbon Monoxide Detector, Smoke Detector
Exterior
Community Features Major Highway, Skiing
Utilities Available Yes
Lot Frontage 132.0
Lot Depth 171.37
Building
Building Age 51-99
Others
Security Features No
ParcelsYN No
Listed by REALTY EXECUTIVES Local Group Inc. Brokerage