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Temiskaming Shores,ON P0J 1K0
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 21,420 sqft
Price per Sqft $209
MLS Listing ID X8235446
Annual Tax Amount $21,017
Tax Year 2023
Property Description
Welcome to Renaissance Place, a premier multifamily investment opportunity nestled in the bustling community of Temiskaming Shores, just 5 hours north of Toronto. This modern complex, completed in 2015, boasts 26 meticulously crafted units designed to meet the needs of today's discerning tenants. With a solid 5.5% CAP Rate, Renaissance Place offers a lucrative investment proposition. The unit mix comprises 6 bachelor, 3 one-bedroom, and 17 two-bedroom apartments, catering to a diverse range of tenants. Each unit is equipped with high-end stainless steel appliances, ensuring both functionality and style. Security is paramount at Renaissance Place, with a state-of-the-art FOB entry system providing peace of mind for residents and investors alike. Energy efficiency is prioritized through the installation of high-efficient LED light fixtures and gas boilers, reducing operational costs and environmental impact. Convenience is key with on-site coin laundry rooms featuring change machines, offering residents hassle-free access to laundry facilities. The property is fully occupied, underscoring the high demand for tenancy in this vibrant community. Temiskaming Shores is renowned for its thriving industries in agriculture, forestry, and mining, ensuring a stable economic base and consistent demand for housing. With its prime location and upscale amenities, Renaissance Place presents a compelling opportunity for investors seeking long-term growth and attractive returns in the flourishing rental market of Temiskaming Shores.
Location
Province ON
County Timiskaming
Interior
Cooling Partial
Exterior
Garage Spaces 26.0
Utilities Available Yes
Parking Type None