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Townhouse Complex - 99.9% Occupancy. Financing Available

Asking Price: $8,990,900 CAD  (Negotiable - Financing Available)

Unique Investment Opportunity!!
Great location.
100 Townhouse Complex.
Fully Rented.
Less than 1% Vacancy rate in Sudbury
Booming Ecomomy



Executive Summary
Type of Property: 100 unit residential townhouse complex consisting of 15 detached buildings, ranging from 4 to 8 units per building.

Address of Property: 1717 Lansing Avenue Sudbury, ON
Size of Site: 8.02 acres. 15 separate buildings. One building contains 4 units, 8 buildings contain 6 units and 6 buildings contain 8 units.
Zoning: Dwelling Residential
Secondary Plan Designation: Medium Density Residential ;/p><p>Draft Official Plan: Living Area 1
Highest and Best Use: Continuation of the present use

Exploration for nickel, copper and palladium group metals in the Sudbury Basin is growing at unprecedented levels, helping to ensure the industry's future in Sudbury. Greater Sudbury mining cluster is the largest of its kind in Canada and has been growing jobs for Sudbury at an annual rate of 10% over the last 5 years. The subject property is in the multiple family residential sector of the local economy. While multiple family residential units were over supplied over the past decade, the market has improved considerably. Vacancy rates are now at record low levels.

In summary, the multiple family residential market is extremely healthy and will likely to remain a highly sought after commodity in the foreseeable future. Each residential unit in a multiple family complex requires 1,196 square feet of land area. In the case of the subject property, the maximum density allowed for a site of this size would be 292 units. During 2005 apartments containing three or more bedrooms averaged $774 per month, while 2006 the same units averaged $781. In 2007 and 2008, this figure is higher due to standard rent ;br />Annual Net Operating Income $ 730,562.00. An 8% capitalization rate is considered realistic for the subject property.

About This Property

Category: Townhouses Address: 1717 Lansing Ave Sudbury Ontario P3A 5C5 Canada For Sale By: Agent Construction Year: n/a Area: n/a

Bedrooms: n/a Bathrooms: n/a Sleeps: n/a Stories: n/a Parking Spaces: n/a

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Contact - More Information

Sam Kamoutsis - RE/MAX 2000 Realty Inc.   Phones:   416 743-2000 ext 659  (Office) 1-888-915-5050  (Office Toll Free) 416-951-0110  (Cell) Fax:   416 743-2031  (Office Fax) Site:   www.TOcommercialrealestate.com Your Name: Your Email: (will not be stored, we will never send you unwanted emails) Your Phone: Your Comments:

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