564 Maclean Drive

Introducing a remarkable opportunity for investors and homebuyers alike, this Multi-Family Home for sale in Timmins is a prime investment triplex located at 564 Maclean Drive, Timmins. This well-maintained property is situated in the TNE - North community, specifically within the Cochrane area, and boasts a variety of features that make it an attractive prospect for those seeking strong returns on their investment.

The property at 564 Maclean Drive, Timmins, is a two-storey multiplex building constructed with a combination of brick and vinyl siding, ensuring both durability and aesthetic appeal. With an impressive total of 14 rooms, this Multi-Family Home for sale in Timmins offers ample living space, including three kitchens that cater to the needs of its tenants. The layout comprises a spacious four-bedroom main-floor unit and a two-bedroom upper unit, both of which are currently tenanted, providing immediate rental income. Additionally, there is a two-bedroom basement suite that includes an office, which is presently owner-occupied, adding to the versatility of this property.

This Multi-Family Home for sale in Timmins is not only about the living space; it also features a private yard that offers a tranquil outdoor area for relaxation or recreation. The property includes a detached double car garage, providing secure parking for vehicles, alongside a driveway that accommodates additional parking for up to three vehicles. The lot measures 90 x 90 feet, providing a generous outdoor space for tenants and guests alike.

In terms of utilities, the property is connected to municipal water and sewer systems, ensuring reliable services for all occupants. The heating is provided by a baseboard system, which is efficient and effective, although it is worth noting that there is no air conditioning or central vacuum system present in the home. Furthermore, there is no swimming pool or fireplace, which may appeal to those seeking a low-maintenance property.

The financial potential of this Multi-Family Home for sale in Timmins is significant. With a monthly rental income of $4,800, the property generates a robust 9% cap rate and an annual net operating income (NOI) of $39,547. This makes it an outstanding opportunity for investors looking for immediate cash flow and established tenants, or for owner-occupants who wish to live in one unit while benefiting from rental income from the others.

The age of the building, which falls within the 51-99 year range, adds character and charm to the property, while the unfurnished status allows new owners to personalise the space according to their preferences. The absence of additional land and extra features means that the focus remains on the core attributes of the property, making it straightforward for potential buyers to assess its value.

In summary, this Multi-Family Home for sale in Timmins at 564 Maclean Drive, Timmins, presents an exceptional investment opportunity. With its strong rental income, well-maintained condition, and desirable location within the TNE - North community, this property is ideal for those looking to invest in real estate or for families seeking a multi-generational living arrangement. The combination of spacious living units, ample parking, and a private yard makes this property a rare find in the current market. Don’t miss out on the chance to own this impressive triplex that promises both comfort and financial returns.

TNE - North is a vibrant and welcoming geographic area within the city of Timmins, situated in the heart of Northern Ontario. Characterised by its lush natural surroundings and a strong sense of community spirit, TNE - North offers residents a unique blend of urban convenience and outdoor adventure. With its proximity to beautiful parks, scenic trails, and the stunning wilderness that defines the region, it’s an ideal location for those who appreciate nature and outdoor activities. The area boasts a variety of amenities, including local shops, schools, and recreational facilities, making it a practical choice for families and individuals alike. Whether you're seeking a peaceful retreat or an active lifestyle, TNE - North provides a charming and inviting atmosphere that feels like home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is W. Earle Miller Public School, situated just 0.7 km away, offering grades from Junior Kindergarten to Grade 6 under the District School Board Ontario North East, with English as the language of instruction. For older children, R. Ross Beattie Senior Public School is only 1.0 km away, catering to grades 7 and 8, while Timmins High and Vocational School, located 1.1 km from the property, serves students in grades 9 to 12. Both of these schools also fall under the same school board and offer English language instruction. Additionally, Timmins Centennial Public School, which is 2.5 km away, provides education in French for grades JK to 8. While the school ratings are currently not specified, the proximity of these schools ensures that your children will have access to quality education within a short distance from home. This neighborhood is well-suited for families seeking a supportive educational environment for their children.