126 Seventh Avenue

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Timmins , located at 126 Seventh Avenue, Timmins. This impressive 5-plex is situated in the TNE - Central community, nestled within the vibrant city of Timmins, in the Cochrane area. The property boasts a well-maintained structure featuring a 2-storey multiplex design, clad in durable vinyl siding, making it an attractive option for both investors and potential homeowners alike.

This Multi-Family Home for sale in Timmins comprises a diverse unit mix, including two 2-bedroom units, two 1-bedroom units, and one bachelor unit. With a total of 18 rooms, including four kitchens and an additional kitchen, this property is designed to accommodate a variety of living arrangements. The current monthly rents for the occupied units are $1,500, $950, $717.50, and $691.88, showcasing the potential for a steady income stream. Notably, the basement 2-bedroom unit is currently vacant and requires renovations. However, once completed, it has the potential to command a market rent of $1,500 per month, significantly enhancing the overall profitability of this investment.

The Multi-Family Home for sale in Timmins offers a projected 10.09% Cap Rate, a figure that reflects the property's strong income potential. This return calculation takes into account the anticipated income from the basement unit post-renovation, as well as an 8% property management fee, a 5% vacancy allowance, and a further 5% set aside for maintenance and repairs. Additionally, all annual taxes, insurance, and utilities have been factored into this calculation, providing a comprehensive overview of the financial prospects associated with this property.

At 126 Seventh Avenue, Timmins, you will find a finished basement that adds valuable living space, although it is important to note that there is no central vacuum system, family room, or fireplace within the home. The absence of air conditioning and a swimming pool may be seen as drawbacks; however, the property benefits from municipal water and sewer services, ensuring essential amenities are readily available. The building's heating is provided by a radiant system, offering a comfortable environment throughout the colder months.

Parking is available for up to three vehicles, although it is worth mentioning that there is no garage space or driveway associated with this property. The lot measures 30 X 52 feet, providing ample space for the building while maintaining a manageable outdoor area. This Multi-Family Home for sale in Timmins is being sold "as-is," allowing the new owner to take charge of any necessary improvements or renovations.

In summary, this Multi-Family Home for sale in Timmins at 126 Seventh Avenue, Timmins, presents an excellent investment opportunity. With its strategic location in the heart of the TNE - Central community, this property is well-positioned to attract tenants seeking quality accommodation. The combination of a diverse unit mix, strong rental income potential, and a favourable Cap Rate makes this property a compelling choice for investors looking to expand their portfolio in the Timmins area.

We invite you to come and have a look at this promising property. Whether you are an experienced investor or a first-time buyer, the potential of this Multi-Family Home for sale in Timmins is not to be overlooked. Take advantage of this opportunity to own a piece of real estate in a thriving community, and explore the possibilities that await at 126 Seventh Avenue, Timmins.

TNE - Central, located in the heart of Timmins, Ontario, is a vibrant and accessible geographic area that offers a unique blend of urban convenience and natural beauty. Characterised by its well-planned streets and proximity to essential amenities, TNE - Central boasts a variety of shops, restaurants, and recreational facilities, making it an ideal spot for those seeking a balanced lifestyle. The community is also surrounded by lush green spaces and parks, providing ample opportunities for outdoor activities and relaxation. With a welcoming atmosphere and a strong sense of local identity, TNE - Central is an inviting place for potential residents looking to embrace the charm of Timmins while enjoying the benefits of a central location.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Bertha Shaw Public School, situated just 3.9 km away, offering French language instruction for grades JK to 6. Another nearby option is Golden Avenue Public School, located 4.1 km from the property, which provides English language education for the same grade levels. For secondary education, Roland Michener Secondary School is available at a distance of 4.2 km, offering both English and French language instruction for grades 9 to 12. All schools are part of the District School Board Ontario North East, ensuring a consistent quality of education. While the schools currently have a rating of 0, they provide essential educational services within a short commuting distance, contributing to a family-friendly environment. This accessibility to various schooling options enhances the appeal of the property for potential buyers looking to settle in a community with educational resources.