| Wembley Drive, Sudbury, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: November 13th, 2024
*One unit is occupied and non-paying, the other units are vacant*
**BUYER TO PAY $10,000 DEPOSIT TO SELLER IN ADDITION TO THE DEPOSIT TO SLG**
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Phenomenal opportunity to purchase a 5-unit multiplex where you can set your own market rent as there are currently 4 vacant units. This multiplex consists of four 1 bedroom units and one 2 bedroom unit. It is a legal 4plex with an in law unit (basement unit is currently not legalized). One unit is currently tenanted with a non paying tenant, an N4 has been issued and they have verbally agreed to leave end of November but the new buyer will have to take over LTB process should they decide to stay. The 4plex is the CHEAPEST 4plex in Sudbury currently! This property is in need of a full cosmetic renovation but has a lot of upside potential! This property is perfect for an investor looking to add a multiplex to their portfolio or a winter fix and flip project.
Property Details
- Multiplex
- Four 1 bed 1 bath unit
- *Non paying tenant is located in Unit 2 which is a 1 bedroom unit*
- One 2 bed 1 bath unit
- 2172 sqft above grade
- 806 sqft below grade
- Built in 1930
- Appliances may not be included
- Separate hydro meters
- 4 car parking lot
- Fuse panels except for the 2 bedroom unit that is on breakers
- Finished basement
- No A/C
- Furnace is owned, 7-8 years old, as per seller
- HWT is a rental and newer, as per seller
- Roof was done in 2007
- No laundry
- Windows, some have been updated
- Property taxes are $4289
- Lot size is 40ft x 120ft
- Zoning is R2-2
Recommended Renovations
- Full cosmetic renovation
- Potentially evict tenant via LTB
- Replace some windows
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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