| Regent Street, Sudbury, Ontario
Offer Date: FIRST COME FIRST SERVE
Closing Date: September 7th, 2023
*Buyer to assume existing tenant*
** 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 five 1 bedroom units that are each approximately 700sqft. One unit is currently tenanted and they have verbally agreed to cash for keys for $4,000 but the buyer will need to discuss this with the tenant directly. 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 fall fix and flip project.
About the Neighbourhood
The subject property is situated in a desirable neighbourhood in Sudbury. The property is a 5 minute drive into the downtown core of Sudbury. Surrounded by countless amenities including multiple independent Grocery Stores, Shoppers Drug Mart, restaurants, businesses and local bars, this property is perfectly located. There are multiple GOVA transit (Sudbury transit system) bus stations located within walking distance of the property as well. There is also a VIA Rail Station approximately 5 minutes away from the property, connecting Sudbury to Toronto by train. Sudbury is also accessible from Highway 69, which extends south connecting to Highway 400, into southern Ontario.
Property Details
- Multiplex
- Five 1 bed 1 bath units
- 2604 sqft above grade
- 682 sqft below grade
- Built in 1946
- Appliances are NOT included
- Separate hydro meters
- No garage, 4 car parking lot
- Breaker panel, copper wiring
- Finished basement
- No A/C
- Radiator heating and boiler system, seller unsure of age
- HWT was purchased in 2013
- Roof age is unknown but may need to be redone soon
- No laundry
- Windows need to be replaced, as per seller, unsure of age
- Property taxes are $4707
- Lot size is 44ft x 49ft
- Zoning is R2-3
Recommended Renovations
- Full cosmetic renovation
- Cash for keys for the existing tenant
- Redo roof
- Replace windows
- The seller has the option to leave junk behind so we would recommend budgeting for junk removal
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