510 Valois Drive

If you're on the lookout for a fantastic investment opportunity, look no further than this remarkable Multi-Family Home for sale in Mattawa . Nestled at 510 Valois Drive, Mattawa, this property boasts a solid foundation for anyone keen on capitalising on the burgeoning rental market. With a total of 15 bedrooms and 8 bathrooms spread across 8 fully tenanted units, this multiplex is not just a house; it’s a cash-flowing machine that adheres to the 1% rule, making it an enticing prospect for savvy investors.

The property, located at 510 Valois Drive, Mattawa, is set in the charming community of Mattawa in the Nipissing area. It features a robust 2-storey building style clad in durable vinyl siding, ensuring both aesthetic appeal and longevity. The lot measures a generous 132 X 171 feet, providing ample space for the two detached garage spaces, which are perfect for additional storage or parking. With a total parking capacity of 20 spaces, your tenants will never have to worry about finding a spot!

Now, let’s talk about the potential of this Multi-Family Home for sale in Mattawa. Not only does it currently have 8 fully tenanted units, but it is also zoned for up to 10 residential apartments. This means there’s room to grow! There’s even unused space that could accommodate two additional 1-bedroom units, presenting a fantastic value-add opportunity for the new owner. It’s worth noting that Unit 4 is currently under-rented, which offers even more upside for the astute investor looking to maximise their returns.

Recent capital improvements have been made to ensure the property remains in excellent condition. In 2023, new weeping tiles were installed on the north and east sides of the building, effectively resolving any previous water penetration issues. The original structure boasts a solid rock foundation, while an addition built around 1987 enhances both stability and functionality. The roof shingles are in excellent condition, although their age remains unknown, providing peace of mind for future maintenance.

Inside, the property is equipped with central air conditioning, ensuring a comfortable living environment for all tenants. Each of the 8 kitchens is fully functional, allowing for ease of meal preparation. While there’s no central vacuum system or family room, the layout of the units provides a practical living space for residents. Each unit has its own hydro panel, and current rents are all-inclusive, making it a hassle-free investment for both landlord and tenants.

For those who appreciate the convenience of modern living, this Multi-Family Home for sale in Mattawa is equipped with internet access, ensuring that tenants can stay connected. The heating system operates on forced air, providing efficient warmth during the colder months. The property is connected to municipal water and sewer systems, which adds to its appeal as a low-maintenance investment.

The location of 510 Valois Drive, Mattawa, is simply unbeatable. Situated right beside the new OPP station, it’s within walking distance to downtown amenities, including the Beer Store, LCBO, and a variety of restaurants. The picturesque Mattawa River is just a couple of blocks away, offering residents a lovely spot for leisurely strolls or outdoor activities.

In summary, this Multi-Family Home for sale in Mattawa at 510 Valois Drive, Mattawa, presents a golden opportunity for investors looking to enter the rental market or expand their portfolio. With its strong cash flow, potential for increased value, and prime location, it’s a property that simply cannot be missed. Whether you're a seasoned investor or just starting out, this multiplex is sure to tick all the right boxes. Don't let this opportunity pass you by!

Mattawa, nestled in the picturesque region of Ontario, Canada, is a charming small town that boasts a rich tapestry of natural beauty and outdoor adventure. Surrounded by lush forests and the serene waters of the Mattawa River, this geographic enclave offers a tranquil lifestyle with a strong sense of connection to nature. The town is steeped in history, with its roots tracing back to Indigenous cultures and early European settlers, which adds a unique character to the area. Residents enjoy a close-knit atmosphere, where community events and local festivals celebrate the vibrant culture and heritage. With ample opportunities for hiking, fishing, and exploring the stunning landscapes, Mattawa is an ideal place for those seeking a peaceful retreat while still being part of a welcoming and active community.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The nearest school is F.J. McElligott Secondary School, just 0.4 km away, offering grades 7 to 12 under the Near North District School Board, with a respectable school rating of 3.6. For younger children, Mattawa District Public School is located 0.7 km from the property, providing elementary education from JK to grade 6, although it has a lower school rating of 2.8. Additionally, St. Victor Catholic Elementary School, situated 1.4 km away, caters to students from JK to grade 8 and operates under the Nipissing-Parry Sound Catholic District School Board, but currently has no school rating available. The schools in the vicinity offer a mix of public and Catholic education options, all taught in English, ensuring that families have access to quality education within a short distance. This proximity to schools enhances the property’s appeal, as it provides convenience for daily commutes and supports a family-friendly environment.

Key Statistics of the Neighbourhood

The area surrounding the property has a small population of 604 residents, with an average household size of 2. The community has a median age of 51.1 years, indicating a mature demographic. The average household income is $68,500, though 22% of the population falls into the low-income bracket. The average property price in the area is $260,000, making it relatively accessible for potential buyers. A significant portion of the population, 53.77%, is single, while 21.88% of households include children, suggesting a mix of family structures. The area has a modest immigrant presence, accounting for 1.79% of the population. Renting is common, with 43.4% of residents classified as renters, and there are no condominiums available in the vicinity. Educational attainment is notable, with 34.02% of residents holding a college or university degree. However, over half of the population, 52.58%, is not actively participating in the labor force, which may reflect retirement or other factors. Overall, this demographic profile suggests a stable, mature community with a diverse mix of household types and income levels.