Business For Sale · Multifamily

64 NIPISSING STREET, West Nipissing (Sturgeon Falls)

64 NIPISSING STREET, West Nipissing (Sturgeon Falls), ON P2B1J3

$279,900 total

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Asset Class

Multifamily

Size

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Building class

B

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

88%

About this property

64 Nipissing Street in Sturgeon Falls is a detached duplex offering an opportunity for investors, renovators, or buyers looking for a multi-unit property with value-add potential. The main unit spans two levels and includes four bedrooms, one-and-a-half bathrooms, an eat-in kitchen, and in-unit laundry. The second unit is located on the third floor and features one bedroom, an open living and kitchen area, a four-piece bathroom, and its own laundry. The property sits on a 50' x 130' lot and includes a carport, ample driveway parking, backyard space and electric baseboard heating. The property requires updating and improvements, making it well suited to a buyer prepared to undertake renovations and reposition the property. Located minutes from shops, restaurants, grocery stores, and other everyday services in Sturgeon Falls. A straightforward opportunity for those looking to renovate, improve, and add a duplex to their investment portfolio. (id:66811)

Financial sandbox

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Estimate
Purchase price$280K
Down payment30% · $84K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$1K

Projected NOI

$12K

Annual cash flow

$-3K

Cash-on-cash

-4.00%

DSCR

0.78

Going-in cap

4.34%

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

50,702

Households

23,466

Median income

$112,500

Median age

31.7

Daytime population

62,081

5-yr growth

4.3%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 64 NIPISSING STREET, West Nipissing (Sturgeon Falls).

NDA required
  • 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.