29 Laren St - Apartments FOR SALE


Wahnapitae, ON P0M 3C0
$2,999,900 CAD
249-805-0538
29 Laren St, Wahnapitae, ON for Sale
$2,999,900 CAD
Apartments - FOR SALE
1/77
null | 6.45% Cap Rate

29 Laren St
Wahnapitae, ON P0M 3C0


HIGHLIGHTS

  • CMHC MLI Select 70-point eligibility
  • Fully tenanted
  • Stabilized NOI of $290,641
  • 8 Town House Tenants pay own hydro, gas & water
  • 9 units significantly below market rent

OVERVIEW

18-Unit Multi-Residential Investment - Greater Sudbury, ONThis is not your average income property.Located on a quiet dead-end street just 10-15 minutes from New Sudbury, this fully tenanted 1.2-acre property offers 18 rental units across three property types on one title - eight townhomes, a nine-unit apartment building, and a large five-bedroom home.The eight townhomes are the standout cash flow asset. Each has three bedrooms, 1.5 bathrooms, a full basement, and a private backyard. Tenants pay all their own utilities - heat, hydro, and water - separately metered with individual gas furnaces and water heaters. In Northern Ontario's climate, this significantly reduces your operating costs and protects margins year-round.The nine-unit apartment building offers a stable tenant base with coin-operated laundry, secure storage lockers, and newer high-efficiency Viessmann boilers - meaning low heating costs and no major mechanical expenses on the horizon.Attached to the apartment building is a spacious five-bedroom home with vaulted ceilings, in-suite laundry, a den, and an attached garage - ideal for an owneroccupier or premium rental. A massive 24' x 50' detached triple-car garage adds further utility and income potential.Current rents are below market, giving the next owner a clear and built-in path to grow income over time without additional capital investment. Eighteen units on one property also means one insurer, one maintenance contact, and one property manager - straightforward and efficient to operate.Greater Sudbury's rental market is backed by mining, healthcare, government, and two post-secondary institutions - keeping vacancy rates low and demand steady. For investors priced out of Southern Ontario, this market still delivers returns that make financial sense.Fully tenanted. Turn-key. Priced for a quick sale.

FOR SALE DETAILS

PRICE

$2,999,900 CAD

PRICE/SF

$150 CAD /SF

# OF UNITS

18

PRICE/UNIT

$166,661

CAP RATE

6.45%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1990

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.2 AC

LAND SF

52,272 SF

ZONING

R3.D37.5

APN/PARCEL ID

530724000329100

ASK ABOUT THIS PROPERTY

Amit ParmareXp Commercial of Canada Inc.More Info
249-805-0538

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Amit ParmareXp Commercial of Canada Inc.More Info
249-805-0538

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.