Property Description for 510 VALOIS Drive
Want a cash flowing property that meets the 1% rule with room to lift value further? What will the property cash flow produce as interest rates decline? Seller also willing to hold a second VTB mortgage to cover your down payment. This building currently has 8 units and is zoned for 10 residential apartments. There is current space enough to build 2 more 1 bedroom apartments inside the existing unused space. Unit 4 is also under rented for additional lift. Most units have been upgraded to some degree and have great tenants in place. Weeping tile done on north and east side in 2023 resolving water penetration, original building has rock foundation and the addition built in approx 1987. Double garage with a large shed like structure attached to it at the rear of the property. Rents are all inclusive but each unit has its own hydro panel in the unit. 2 furnaces, 2 AC, 2 hot water on demand rental units, shingles in great shape but age unknown and right beside new OPP station. Beer store, downtown, food and LCBO within walking range and bonus Mattawa river within a couple blocks of the building also. (id:38686)
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Property Details
Property Tax
: $8,208MLS® #
: 40603811
Home Features
Property Type
: MultiFamilySquare Footage
: 6,142 SQFTSubdivision
: Mattawa
Interior Features
Heating
: ["Forced air", "Natural gas"]Basement
: ["Partially finished", "Partial"]Flooring
: []
Exterior Features
Acreage
: 0.47Roof
: []
Utilities
Sewer
: ["Municipal sewage system"]
Other
Parking Features
: ["Detached Garage"]Fireplace Features
: []Exterior Features
: Vinyl siding
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