105 Riverside Drive

Attention all investors! Here’s a fantastic opportunity you won’t want to miss: a Multi-Family Home for sale in Greater Sudbury , located at 105 Riverside Drive, Greater Sudbury. This prime 5-plex is situated in the heart of the city, offering a solid income-property prospect that is simply too good to pass up. With its well-established location, this multiplex features five generously sized two-bedroom apartments, four of which are currently leased, while one unit is vacant. This setup provides you with immediate revenue potential or the option to live in and manage the property yourself.

The property at 105 Riverside Drive, Greater Sudbury, boasts a total of 20 rooms, including five kitchens and five bathrooms, making it an ideal choice for tenants. The building is a two-storey brick structure that has stood the test of time, with an age range of 51-99 years. While it may not have a fireplace or a pool, the absence of these features is offset by the significant benefits this Multi-Family Home for sale in Greater Sudbury offers. There’s also no central vacuum system or air conditioning, but the building does have municipal water and sewer connections, ensuring convenience for all residents.

Located just minutes away from Bell Park, Health Sciences North (HSN), and the bustling Downtown commercial core, this property benefits from strong tenant demand. The walkability of the neighbourhood, combined with its proximity to major employment and lifestyle hubs, makes this a highly desirable location for potential tenants. The area is well-served by excellent transit links, with major GOVA bus routes nearby and easy access to the VIA Rail station, making commuting a breeze for residents.

As you consider this Multi-Family Home for sale in Greater Sudbury, you'll appreciate the investment benefits it presents. With immediate cash flow from the four leased units, you have the ability to manage the vacancy of the fifth unit at your discretion. The desirable two-bedroom format supports stable tenancy and strong market appeal, ensuring that your investment remains lucrative. Moreover, the manageable scale of the building makes it ideal for both seasoned investors and those looking to operate as owner-operators.

The property is situated on a lot measuring 40 x 120 feet, providing ample space for the building while allowing for four parking spaces. However, it’s worth noting that there is no garage or driveway, which may be a consideration for potential tenants. The partially finished basement includes an apartment, adding to the versatility of the property. This Multi-Family Home for sale in Greater Sudbury is not just a place to live; it’s an opportunity to create a thriving rental business.

There’s also value-added potential through rent increases, unit upgrades, or even converting the vacant unit into a live-in super arrangement. This flexibility allows you to maximise your investment's potential and adapt to the changing rental market. Priced to move, this property offers exceptional value for a well-situated multifamily building in one of Northern Ontario's strongest rental markets.

Don’t let this opportunity slip through your fingers! The Multi-Family Home for sale in Greater Sudbury at 105 Riverside Drive, Greater Sudbury, is waiting for you to make it your own. Whether you’re looking to expand your portfolio or enter the investment market, this property represents a golden chance to secure a high-demand multifamily asset. Reach out today to explore this remarkable investment opportunity!

Sudbury, located within the city of Greater Sudbury in Ontario, Canada, is a vibrant and diverse geographic area known for its striking natural beauty and rich cultural heritage. Nestled amidst the rugged landscapes of the Canadian Shield, Sudbury boasts an abundance of outdoor recreational opportunities, including hiking, skiing, and fishing, thanks to its numerous lakes and parks. The community is also home to a mix of urban amenities and small-town charm, featuring a variety of shops, restaurants, and cultural attractions, such as the Science North and the Sudbury Theatre Centre. With a welcoming atmosphere and a strong sense of community spirit, Sudbury offers a unique blend of urban living and access to nature, making it an appealing choice for potential residents seeking a balanced lifestyle.

Schools in the Neighbourhood

This property is conveniently located near several reputable schools, making it an ideal choice for families. Within just 0.2 km, Alexander Public School offers a French-language education for grades K to 8, boasting a commendable school rating of 6.7. For those seeking English-language instruction, Princess Anne Public School is only 1.2 km away, serving grades K to 8 with a solid rating of 4.2. Older students will benefit from Sudbury Secondary School, also 1.2 km from the property, which provides high school education in both English and French, with a noteworthy rating of 5.3. Additionally, St. Francis Elementary School, located 1.6 km away, offers a Catholic education for grades K to 6, rated at 6.0. For high school students, Marymount Academy, situated 1.2 km from the property, provides a Catholic education with an impressive rating of 7.6. Overall, the proximity to these schools ensures that your children will have access to quality education options in both English and French, catering to diverse educational preferences and needs.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 592 residents, characterized by an average household size of 1.8 individuals. The community has a youthful demographic, with an average age of 35.6 years. The average household income stands at $68,800, though 13.8% of the population is classified as low-income. The real estate market reflects an average property price of $325,000, indicating a moderate housing market. A significant portion of the population, 57.55%, is single, while households with children account for 25.93%. The area is also home to a diverse demographic, with 14.29% of residents being immigrants. The rental market is prominent, with 62.69% of residents renting their homes, and condos making up 5.97% of the housing stock. Educational attainment is high, with 66.36% of the population holding a college or university degree. However, 21.5% of residents are not in the labor force, suggesting potential economic challenges. Overall, this community presents a mix of young professionals and families, with a strong emphasis on education and a significant rental market.