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495-497 Ferguson Avenue Temiskaming Shores, Ontario P0J 1K0

21420 sqft
Partially Air Conditioned Hot Water Radiator Heat

$4,495,000

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. (id:58073)

Business

BusinessType Residential
BusinessSubType Apartments

Property Details

MLS® Number X8235446
Property Type Multi-family
ParkingSpaceTotal 26

Building

CoolingType Partially Air Conditioned
HeatingFuel Natural Gas
HeatingType Hot Water Radiator Heat
SizeInterior 21420 Sqft
Type Multi-family
UtilityWater Municipal Water

Land

Acreage No
SizeDepth 200 Ft
SizeFrontage 85 Ft
SizeIrregular 85 X 200 Ft
SizeTotalText 85 X 200 Ft
ZoningDescription R4-14, C1a (multi-residential 26 Unit)

https://www.realtor.ca/real-estate/26753397/495-497-ferguson-avenue-temiskaming-shores