LOADING

449 Mead Boulevard Espanola, Ontario P5E 1M2

Boiler

$287,400

NEW LOWER PRICE!! Superb opportunity for the smart Investor. Welcome to Espanola, a small community west of Sudbury. This town has a lot of amenities of a large town, Police Station, Modern Hospital, Shopping Mall, Golf Course, Schools, Grocery Stores, Restaurants, Tennis... Plenty of outdoor activities like Fishing, Hunting Quadding, Snowmobiling... Large employer Domtar in town and in commuting distance to Sudbury. Espanola has a very low vacancy rate is always looking for more apartments. Very solid building. Cinder block and timber frame construction, poured concrete basement. Natural gas Boiler with classical cast iron radiators. Commercial AC units for parts of the building. 400 Amp service for plenty of electricity. Current owner has started to convert to apartments and is almost complete. Most of the heavy lifting has been done. Zoning allows for 8 apartments and retail/office spaces. The layout is 4 bachelors, 1 single bedroom,1 two bedroom, and 2 large three bedroom apartments. A small office space, and a spacious commercial area. At the back of the building is an attached warehouse area that the owner is using as a multi car garage. Partial basement with several storage areas. Rare opportunity to get into the rental business in Espanola. The completed project could generate over $100,000 in yearly gross revenue, as well as bringing value to your investment. Current owner has discover he is not a people person and not suited as a Landlord. His loss can be your gain. Motivated seller and willing to negotiate. Due to the unfinished state of the building, this property is being sold as is, buyer requires due diligence, no warranty from seller. (id:27077)

Property Details

MLS® Number 2053151
Property Type Other
Equipment Type None
Rental Equipment Type None
Road Type Paved Road
Storage Type Unknown

Building

Exterior Finish Brick, Stucco
Fire Protection Fire Alarm System, Smoke Detectors
Fireplace Present No
Foundation Type Block, Concrete
Heating Type Boiler
Roof Material Tar And Gravel
Roof Style Unknown
Type Commercial Apartment
Utility Water Municipal Water

Land

Access Type Front & Rear Drive Access, Year-round Access
Acreage No
Fence Type Not Fenced
Sewer Municipal Sewage System
Size Total Text Under 1/2 Acre
Zoning Description C3 Special

https://www.realtor.ca/PropertyDetails.aspx?PropertyId=18996173

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Royal LePage North Heritage Realty, Brokerage (South End)
1620 Regent St
Sudbury, ON P3E 3Z6

(705) 688-0007