169-171 Rea Street N

Introducing a remarkable opportunity: a Multi-Family Home for sale in Timmins , located at 169-171 Rea Street N, Timmins. This property is situated at the corner of Vimy Avenue and Rea Street North, nestled within the vibrant community of TM - TNW - Algonquin to Jubilee in the Cochrane area. This multiplex building, styled as a 1 1/2 storey, offers a unique investment opportunity for those looking to capitalise on the growing demand for multi-family living spaces.

This Multi-Family Home for sale in Timmins boasts an impressive six bedrooms, providing ample accommodation for families or tenants. With a total of 12 rooms, including three kitchens, this property is designed to cater to the needs of multiple households. The layout allows for flexibility, making it an ideal choice for investors or those seeking to create a communal living environment. The presence of three kitchens ensures that each unit can function independently, offering convenience and privacy for all residents.

While the property does require major renovations, it presents a blank canvas for those with a vision. The finished basement adds additional living space, which can be transformed into a recreational area or further accommodation, enhancing the overall value of this Multi-Family Home for sale in Timmins. Although the property does not feature a family room or a central vacuum system, the potential for transformation is significant, allowing you to customise the space to meet modern living standards.

The exterior of the building is described as 'other', leaving room for creative updates and improvements. With a lot size of 42 X 100 feet, there is ample outdoor space for landscaping or additional amenities, should you choose to enhance the property further. However, it is worth noting that there is no garage space or driveway included, which may require consideration for parking arrangements. Fortunately, the property offers parking space for up to four vehicles, providing sufficient accommodation for residents and guests alike.

The utilities of this Multi-Family Home for sale in Timmins are well-established, with municipal water and sewer services in place. While there is no air conditioning or pool, the property is equipped with baseboard heating, ensuring warmth during the colder months. Internet connectivity is available, which is an essential feature for modern living, especially in a multi-family setting where residents may require reliable access for work or leisure.

As you consider this investment opportunity, it's important to highlight the strategic location of 169-171 Rea Street N, Timmins. The surrounding community is vibrant and offers a range of amenities, making it an attractive location for potential tenants. The demand for rental properties in this area is on the rise, further underscoring the potential profitability of this Multi-Family Home for sale in Timmins.

In conclusion, 169-171 Rea Street N, Timmins, represents a unique opportunity for savvy investors or those looking to create a multi-family residence. With its six bedrooms, three kitchens, and finished basement, this property has the potential to be transformed into a desirable living space. Although it requires significant renovations and lacks certain features such as a garage and central vacuum system, the advantages of its location and layout cannot be overstated. This Multi-Family Home for sale in Timmins is waiting for the right individual to unlock its potential and create a thriving community living environment. Don’t miss out on this exceptional opportunity to invest in a property that promises great returns in a growing market.

The TM - TNW - Algonquin to Jubilee area in Timmins offers a unique blend of natural beauty and urban convenience, making it an appealing choice for potential residents. Nestled within the picturesque landscapes of Northern Ontario, this geographic entity features a mix of lush green spaces, serene parks, and well-maintained trails, perfect for outdoor enthusiasts. The community is well-connected, with essential amenities, schools, and local shops just a stone's throw away, ensuring a comfortable and practical lifestyle. With its friendly atmosphere and strong sense of belonging, TM - TNW - Algonquin to Jubilee is an inviting place to call home, where the charm of small-town living meets the vibrancy of city life.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. The closest school is R. Ross Beattie Senior Public School, situated just 0.4 km away, catering to grades 7 and 8. For younger children, W. Earle Miller Public School is only 1.5 km from the property, offering education from Junior Kindergarten to grade 6. Additionally, Timmins High and Vocational School, located 1.0 km away, serves students in grades 9 to 12, providing a pathway for higher education. For families interested in French language education, Timmins Centennial Public School is also nearby, approximately 1.6 km from the property, and offers classes from Junior Kindergarten to grade 8. All these schools are part of the District School Board Ontario North East and provide English and French language programs. While the schools currently have a rating of 0, their proximity and variety of educational options enhance the appeal of this property for potential buyers seeking a family-friendly neighborhood.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 477 residents, with an average household size of 2. The demographic profile indicates a mature community, with an average age of 45.4 years. Economic indicators show an average household income of $78,500, although 17.2% of the population is classified as low-income. The average property price in the area is $184,000, making it relatively affordable. The community is diverse in its living arrangements, with 48.81% of residents being single and 38.46% of households having children. Renters make up 34.04% of the population, while there are no condominiums reported in the area. Educational attainment is notable, with 42.86% of residents holding a college or university degree. However, a significant portion of the population, 49.35%, is not in the labor force, which may reflect retirement or other factors. Additionally, the immigrant population is relatively small at 2.17%. Overall, this area presents a blend of stability and potential for growth, appealing to families and individuals alike.