FOR SALE - YourOnlineAgents.com

Multi Family Residential Buildings
www.remaxssmcommercial.ca
FOR SALE
Offered at: $300,000 CDN
Sault Ste. Marie, ON.
$13,636 per unit
109
109 Carufel Ave.
11 Unit Apartment
110 Wilding Ave.
11 Unit Apartment
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R-4 Zoning Multi-Unit Residential Uses
Two Bedroom, One Bathroom units
22 Units in Total
Walking Distance from Tenaris Tube Mill and Essar Steel
Located on bus route and close to shopping
Both Properties vacant in need of repair, being sold in “AS IS” condition
Parking and On-Site Laundry Facilities
Investment Proforma
2011 CMHC Northern Ontario Housing
Projected Gross Income of $164,400 based on 100% occupancy of
the 22 – 2 Bedroom units.
Rental rates are based on competitive buildings in the market
area.
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Projected Vacancy Rate 1% (based on average CMHC
statistics)
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Projected Expenses $51,000
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Projected Net Operating Income = $113,400
Interested parties should be aware that these buildings have been
vacant for several months, and are in need of substantial
renovations. They are being sold “as is”, “where is” condition.
This is an ideal project for a contractor or investor willing to
rehabilitate the structures and re-introduce them to the rental
market. Sault Ste. Marie has a strong demand for rental units and
this could prove to be a very lucrative investment.
Offers will be considered after 14 Days of exposure to the market.
Sam Butkovich
AACI/ PApp/ Broker of Record
RE/MAX Sault Ste Marie Realty Inc., Brokerage
853 Queen Street E. Sault Ste. Marie, ON P6A 2A8
(705)759-0700 (office)
(705) 541-8878 (cell)
1-866-597-3629 (toll free)
R-4 Zoning Permitted Uses
This zone provides for and regulates medium density residential
developments. Zone regulations are designed to allow for and
encourage a mixture of several types of multi-unit residential uses.
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Apartment Building
Day Care Facility- subject to Institutional Zone regulations
Elementary School- subject to Institutional Zone regulations
Group Home- Subject to Single Detached Dwelling regulations
Group Residence- Subject to Institutional Zone regulations
Home Based Business
Nursing and Residential Care Facilities
Park and Playground
Place of Worship
Rooming House
Sault Ste. Marie is located at the Ontario-Michigan border at the hub of the
Great Lakes on the St. Mary’s River in Ontario, Canada. It is the third
largest city in Northern Ontario, with a population of approximately 75,000.
Sam Butkovich
AACI/ PApp/ Broker of Record
RE/MAX Sault Ste Marie Realty Inc., Brokerage
853 Queen Street E. Sault Ste. Marie, ON P6A 2A8
(705)759-0700 (office)
(705) 541-8878 (cell)
1-866-597-3629 (toll free)