1/3032 Wallace TER, Sault Ste. Marie
32 Wallace TER, Sault Ste. Marie, ON P6C1K1
$209,900 total
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Asset Class
Multifamily
Size
—
Building class
A
Zoning
RA8 — Medium Rise
$ / SF
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Occupancy
97%
Year Built
1930
About this property
Excellent investment opportunity at 32 Wallace Terrace! This fully tenanted duplex offers an impressive 11.39% cap rate, with additional income potential through the creation of a third unit. Legally zoned for a triplex, the property currently features one two-bedroom unit and one one-bedroom unit, while the upper level is ready to be renovated into an additional unit. Most of the materials required to complete the renovation are included with the sale. Tenants pay their own PUC utilities, helping to keep operating costs low. Additional highlights include a durable metal roof and a garage offering valuable storage space. A fantastic opportunity for investors looking for immediate rental income with room to grow! (id:66811)
Financial sandbox
Adjust the deal assumptions — returns recalculate instantly.
Monthly debt service
$969
Projected NOI
$10K
Annual cash flow
$-1K
Cash-on-cash
-2.07%
DSCR
0.89
Going-in cap
4.92%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Area demographics
Trade area within 3 miles of the property.
Population
140,705
Households
53,109
Median income
$69,000
Median age
41.7
Daytime population
216,543
5-yr growth
8.5%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 32 Wallace TER, Sault Ste. Marie.
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.