Attention Investors! Discover a lucrative multi-family investment opportunity at 6 Algoma Street, Wawa, ON. This well-maintained, fully-tenanted 18-unit property (17 x 2-bedroom, 1 x 1-bedroom) offers significant upside potential with a current 5.98% CAP rate and projected rent increases. Situated on picturesque Wawa Lake, this property benefits from its strategic location at the heart of Northern Ontario's booming mining and forestry industries. Known as a regional hub, Wawa attracts steady economic growth and a vibrant tenant base. Recent upgrades include new flooring, fixtures, and appliances across multiple units, ensuring low maintenance and tenant satisfaction. Shared amenities include updated laundry facilities with new commercial dryers, modernized corridors, and a freshly painted mechanical room featuring a new hot water tank and circulating pump. The property enjoys stable income with room to optimize NOI by leveraging the strong demand for housing in the area. Wawa, with its rich natural resources and infrastructure development, offers a sustainable investment landscape, combining regional economic growth with competitive property appreciation potential. Take advantage of this rare opportunity to achieve excellent cash flow and long-term equity growth. **** EXTRAS **** Upgraded units with new flooring, fixtures, and appliances. Shared areas: new carpets, painted corridors, and an updated mechanical room with a new hot water tank and pump. Fully-tenanted with strong income potential and upside on rents. (id:56069)
| Business Type | Residential |
| Business Sub Type | Apartments |
| MLS® Number | X11883220 |
| Property Type | Multi-family |
| Heating Type | Baseboard Heaters |
| Size Interior | 17,200 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 72 Ft |
| Size Frontage | 99 Ft |
| Size Irregular | 99 X 72 Ft |
| Size Total Text | 99 X 72 Ft |
| Zoning Description | Ra*3 |
https://www.realtor.ca/real-estate/27716776/6-algoma-street-wawa
Contact us for more information
Graham Frederick Alloway
Broker
(416) 443-9000
(416) 443-9005
allowayproperty.com/
Baron Alloway
Broker of Record
(416) 443-9000
(416) 443-9005
allowayproperty.com/
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