Property Details

77-79 Spruce Avenue, Elliot Lake, Ontario, P5A2C1

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For sale, ID#: 2098104
77-79 Spruce Avenue
Elliot Lake Ontario
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0 Beds
0 Bath
$3,299,000

ATTENTION INVESTORS!! 2 MULTI UNIT RESIDENTIAL TOWNHOMES WITH A TOTAL OF 29 UNITS IN THE HEART OF ELLIOT LAKE. EXCELLENT LOCATION. JUST STEPS TO THE HOSPITAL, SPRUCE BEACH, ARENA, WALKING TRAILS AND DOWNTOWN CORE. PROPERTY IS APPROXIMATELY 1.44 ACRES IN SIZE. 2 SEPARATE BUILDINGS WHICH CONSIST OF A MIX OF 14 - 2 BEDROOM TOWNHOMES AND 15 - 3 BEDROOM TOWNHOMES EACH APPROX. 8OO SQUARE FEET. TENANTS PAY THEIR OWN HEAT AND HYDRO THROUGH SEPARATE METRES. EXCELLENT POTENTIAL FOR INCOME GROWTH LONG TERM AS RENTS ARE RAPIDLY RISING. HIGH DEMAND IN ELLIOT LAKE WITH EXTREMLY LOW VACANCY RATES. PROPERTY TAXES $40, 508.88 (2020). CITY WATER RATE $23,389.66 (2021). SUPER INTENDENT ON SITE, RENT FREE (UNIT 29). HUGE POTENTIAL WITH PLENTY OF CASH FLOW. ALL BUYERS MUST BE PRE APPROVED. INCOME STATEMENT AVAILABLE UPON FULLY EXECTUED BUYER REPRESENTATION AGREEMENT AND CONFIDENTIALITY AGREEMENT IN PLACE AND IS REQUIRED PRIOR TO ALL SHOWINGS. SELLER IS A REALTOR IN ONTARIO. (id:2471)

Representative
Giorgio Lagana
Giorgio LaganaBroker,
RE/MAX Crown Realty (1989) Inc. Brokerage - Sudbury
Property Details
  • Property Address: 77-79 Spruce Avenue, Elliot Lake, Ontario, P5A2C1
  • Property Type: Other
  • Zoning Description: COMMERCIAL
  • Title: Freehold
  • Acreage: 1 - 3 acres
  • Sewage Type: Municipal sewage system
  • Water Type: Municipal water
  • Access: Year-round access
  • Driveway: Gravel
Structure Details
  • Structure Style: Other
  • Cooling: None
  • Exterior Type: Wood
  • Foundation Type: Poured Concrete
Neighbourhood Information

Listing Offices: SUTTON-BENCHMARK REALTY INC., BROKERAGE ELLIOT LAKE

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77-79 Spruce Avenue, Elliot Lake, Ontario, P5A2C1

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