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Temiskaming Shores, ON P0J 1K0,495-497 Ferguson AVE
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Temiskaming Shores, ON P0J 1K0,495-497 Ferguson AVE
Temiskaming Shores, ON P0J 1K0,495-497 Ferguson AVE
Temiskaming Shores, ON P0J 1K0,495-497 Ferguson AVE
Temiskaming Shores, ON P0J 1K0,495-497 Ferguson AVE
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Jeff Somlo

Jeff Somlo

+1(647) 998-3693
$ 4,495,000
Est. payment /mo
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495-497 Ferguson AVE Temiskaming Shores, ON P0J 1K0

21,420 SqFt

UPDATED:

08/30/2024 05:51 PM

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

Area Timiskaming

Interior

Cooling Partial

Exterior

Garage Spaces 26.0

Utilities Available Yes

Listed by ALLOWAY PROPERTY GROUP LTD.
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495-497 Ferguson AVE