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Jeffrey Sefton
REAL Broker BC - Okanagan Home Team
info@okanaganrealestatesearch.com +1(778) 235-4501$3,600,000
Est. payment /mo
2 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2 sqft
Price per Sqft $1,800,000
Subdivision Sturgeon Falls
MLS® Listing ID X12543974
Lot Size 2.300 Acres
Acres 2.3
Source Toronto Regional Real Estate Board
Property Description
Seller is willing to provide a second mortgage (VTB) of up to $700,000 at an annual interest rate of 2% to help with the down payment. Additionally, buyer financing of up to $2,700,000 may be available from third-party lenders, subject to the lender's credit approval and usual lending conditions. This creates an exceptional and rare investment opportunity to acquire a property that has 10 detached homes with waterfront land. The current homes are generating substantial revenue, so you can keep this property for long-term growth while exploring the redevelopment potential for a 45+ suite hotel! The property includes five separate lots (five PINs: PIN 490790239, PIN 490790992, PIN 490790228, PIN 490790240, PIN 490790992), currently featuring ten detached homes, one large and one smaller workshop, and approximately 350 feet of water frontage on Minnehaha Bay, part of Lake Nipissing, in Sturgeon Falls (approximately 3 hours north of the GTA). The site is within walking distance of downtown Sturgeon Falls and located approximately 20 minutes west of North Bay, 1 hour south of Sudbury, and roughly 3 hours north of the GTA. This unique location is fully serviced by all municipal utilities, already zoned to build a hotel, and has a clean Phase 1 report, making it an excellent candidate as a hotel site for future development. Initial concept drawings are available on request. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling Partially air conditioned
Exterior
Parking Features No
View Y/N No
Private Pool No
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