6 Algoma Street Wawa, Ontario P0S 1K0
MLS# X11883220 - Buy this house, and I'll buy Yours*

$1,999,000

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:51158)

Business

Business Type	Residential
Business Sub Type	Apartments

Property Details

MLS® Number	X11883220
Property Type	Multi-family

About 6 Algoma Street, Wawa, Ontario

This For sale Property is located at 6 Algoma Street Multi-family Multi-Family, in the City of Wawa Multi-family bedroom(s), bath(s) . 6 Algoma Street has Baseboard heaters heating . This house features a Fireplace.

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This Wawa Multi-Family

The Current price for the property located at 6 Algoma Street, Wawa is $1,999,000 and was listed on MLS on :2024-12-08 18:09:31

Building

Heating Type	Baseboard Heaters
Size Interior	17200 Sqft
Type	Multi-family
Utility Water	Municipal Water

Land

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