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$1,999,000
Available - For Sale
Listing ID: X11883220
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.
Price $1,999,000
Taxes: $16,566.14
Tax Type: Annual
Occupancy by: Tenant
Address: 6 Algoma St , Wawa, P0S 1K0, Ontario
Postal Code: P0S 1K0
Province/State: Ontario
Legal Description: PCL 2182 SEC AWS; LT 37 PL M27 MCMURRAY;
Lot Size: 99 x 72 (Feet)
Directions/Cross Streets: Algoma St & Mckinley Ave
Zoning: Ra*3
Category: Apartment
Use: Apts-13 To 20 Units
Building Percentage: Y
Total Area: 17,200
Total Area Code:  Sq Ft
Financial Statement: Y
Heat Type: Baseboard
Central Air Conditioning: N
Elevator Lift: None
Water: Municipal
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Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
Amortization:     Years GDS: %
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Total Payment $ $ $ $
Income Required $ $ $ $

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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
ALLOWAY PROPERTY GROUP LTD.

6 Algoma St , Wawa, P0S 1K0, Ontario


 
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Type: Com - Investment
Area: Algoma
Municipality: Wawa
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Lot Size: 99.00 x 72.00(Feet)
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Tax: $16,566.14
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Maria Tompson
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Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

 

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