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Michael Kelly
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X5355775
$3,299,000

77-79 Spruce Ave (Downtown)

Price: $3,299,000

Status: For Sale 

MLS®#: X5355775

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$3,299,000
  • Tax: $40,508.88/Annual (2020)
  • City:Elliot Lake
  • Type:Commercial
  • Style:Investment
  • Size: 63,710 Sq Ft

Features:

  • HeatingElec Forced Air
  • Sewer/Water SystemsMunicipal

Listing Contracted With: SUTTON GROUP REALTY SYSTEMS INC., BROKERAGE

Description

: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. 800 Square Feet. Tenants Pay Their Own Heat And Hydro Through Separate Meters


Highlights

Units Which Become Vacant Are Now Being Re-Rented At $1000 Per Month Plus Heat And Hydro. Excellent Potential For Income Growth Long Term As Rents Are Rapidly Rising. High Demand In Elliot Lake With Extremely Low Vacancy Rates.

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Michael Kelly

Sales Representative

Sutton Group Realty Systems Inc., Brokerage

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