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Visitor Number: 16,112,009

26 Keewatin Road, Red Lake, ON

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Site# 3471 Viewed: 411 Map to Location
8077270316 Type: Apartments Bedrooms: 0
Acreage: Bathrooms: 0
Sq Ft: Age:
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Apartment Building for sale

Invest in Opportunity in Sunset Country!

Reap the rewards of this exciting property venture in the heart of gold mining country in the beautiful community of Red Lake, Ontario. This multi-unit apartment complex is turnkey with all units currently occupied. This complex is the only of its type in Red Lake zoned multi-residential and is well maintained with most upgrades already completed giving the new owners, many worry free years. This highly profitable rental property produces excellent cash flow with occupancy rates above 95% year over year and also gives the owners the option to live onsite in the owners suite if they choose. The complex is located at 26 Keewatin Road in a residential area right in the heart of Red Lake where everything is reachable within a quick walk.

Property Specifics

There are three separate buildings – each building contains four – 2 bedroom apartments (approx.. 600 sqft)
In total, there are 11 two-bedroom apartments an additional bachelor apartment and a large two floor 2 bedroom 2 bathroom owners, managers apartment (currently rented). The property is serviced with Municipal water and sewer, Hydro, Shaw, Bell Canada, Union Gas, garbage and recycling collection.

Improvements include the following:

• Energy audit completed by Hydro One contractor – all recommendations were completed.
• All windows, entrance doors and storm doors replaced 3 years ago (dual pane low-e argon filled)
• Exterior siding replaced as well as blue ridged insulation added 8 years ago
• Plumbing replaced (taps, shutoffs, heat trace, drains etc.)
• Flooring updates throughout each apartment (carpet and vinyl)
• Bathroom updates throughout each apartment such as installation of high efficiency toilets new shower doors tub surrounds and vanities.
• Hydro meters are now all separate as well separate gas meters for each apartment were installed
• Each unit has new decking installed
• New metal eaves trough and down spouts installed front and back of building
• All units have new regular size fridges and stoves included and new range hoods
• All the roofs have been replaced (2018) with architectural 25 year shingles with warranty. As well, the roof sheeting was replaced and roof venting replaced for better airflow.
• Each unit has a new separately controlled gas furnace with all new ductwork, gas lines and electrical.
• Newly built laundry room (2 years old) with 2 commercial grade Maytag coin-op washers and 2 commercial grade coin-op gas dryers and gas hot water tank.

Further requests for details can be addressed to Marshall Dumontier at (807) 727-0316 or to marshall.dumontier@yahoo.ca

 

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