510 VALOIS DRIVE
Mattawa, Ontario
MLS® X13634474
$999,900
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13634474
- Bedrooms
- —
- Bathrooms
- 8
- Year built
- —
1 / 26Listing description
Looking for a strong cash-flowing investment that meets the 1% rule with room to increase value even further? This building has a strong occupancy history plus a 8. 69% cap rate including vacancy, maintenance and management expenses.
Gross income 137,885. 88, net income 86,849. This property offers 8 fully tenanted units and is zoned for up to 10 residential apartments.
With interior existing unused space, there's potential to add 2 additional 1-bedroom units-a built-in value-add opportunity or a 3 bedroom unit. Unit 4 is currently under-rented, providing additional upside. Most units have already seen upgrades and are occupied by great tenants.
Recent capital improvements include new weeping tile (2023) on the north and east sides, resolving previous water penetration concerns. The original structure features a solid rock foundation, while the addition (c. 1987) provides a purpose built 6 unit addition.
Other highlights include a double garage with an attached outbuilding for extra storage, two furnaces, two A/C units, and two hot water on-demand rental systems. Each unit has its own hydro panel and current rents are all-inclusive. Roof shingles replaced Aug 2026 with new skylights and venting also.
The location is unbeatable being located right beside the new OPP station, and within walking distance to downtown amenities including the Beer Store, LCBO, restaurants, and the Mattawa River just a couple of blocks away. Management company willing to stay on.
Property summary
- MLS® number
- X13634474
- Property type
- Multi-family
- Building type
- Multi-Family
- Square footage
- 6,142 sq ft
- Land size
- 132 x 171.37 FT
- Annual property taxes
- $8,291.00
- Days on market
- 44 days
Features & details
- Heating
- Forced air, Natural gas
- Cooling
- Fully air conditioned
What would this home cost you?
Based on the $999,900 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of REALTY EXECUTIVES Local Group Inc. Brokerage, NORTH BAY.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.