REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 5,699,000
Est. payment /mo
New
214 David ST Greater Sudbury, ON P0M 1L0
2 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 2 sqft
Price per Sqft $2,849,500
Subdivision Sudbury
MLS Listing ID X12418416
Annual Tax Amount $34,312
Tax Year 2024
Property Sub-Type Investment
Property Description
22 Two-Bedroom Townhouses in Greater Sudbury. Each townhome is approx. 1400sqf above grade! Strong returns, 85% LTV possible, turn-key! LUCRATIVE Potential: The subject property presently has an average rent of approximately $1700 across twenty-two two-bedroom townhomes. The most recent rental was for $2500. There are presently six suites with a rent of $2000 or higher. If all townhomes were rented at even $2100 that translates into an increase in NOI of over $100,000! At full market rent the increase in NOI is over $200,000! In addition, the luxury of the access land provides space to build an additional building of 15-20 suites depending on specifics! QUALITY Asset: The property has seen a tremendous amount of renovation and improvement recently with countless dollars spent on renovation. 18 of 22 Townhomes have been entirely gutted from top to bottom, featuring new flooring, new bathrooms, new kitchens, etc. All 22 Townhomes feature new roofs, windows and doors. Each home is approximately 1400 sqf with 3 bedrooms on the second floor! SOLID Rental Market: Greater Sudbury,s resilient economy, driven by a robust mining sector, supports stable housing demand. Known as the Nickel City, hosts significant mining operations, employing around 6,000 people directly and supporting 10,000 more in related industries. They city,s ongoing infrastructure development enhances its appeal for real estate investment. Projects like the Kingsway Entertainment District, Place des Arts, and a $625 million Highway 69 expansion signal a growing, vibrant city.
Location
Province ON
County Greater Sudbury
Community Sudbury
Area Greater Sudbury
Zoning Multiresidential
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 260.0
Lot Depth 325.0
Listed by STONEBANK REAL ESTATE LTD.
