79 Main Street

Introducing a remarkable investment opportunity, this Multi-Family Home for sale in Kirkland Lake is a fully tenanted triplex situated at 79 Main Street, Kirkland Lake. This property is strategically positioned in the heart of the KL & Area community, making it an ideal choice for those looking to invest in a lucrative real estate venture. The building, which boasts a two-storey multiplex style, features a charming exterior clad in vinyl siding, ensuring both durability and aesthetic appeal.

This Multi-Family Home for sale in Kirkland Lake is currently generating a robust gross income of £45,000 annually, providing a solid return on investment right from the outset. The property consists of two spacious two-bedroom units, each designed to attract today’s discerning renters. Additionally, there is a newly renovated, double-level bachelor apartment located at the back, further enhancing the rental potential of this exceptional property.

Located at 79 Main Street, Kirkland Lake, this triplex is not just about the numbers; it offers a lifestyle that is appealing to tenants. The property is conveniently situated just steps away from local shops and restaurants, ensuring that residents have easy access to everyday amenities. Furthermore, it is only a short walk to the park and Kinross Pond, providing opportunities for leisure and recreation. This prime location contributes significantly to the desirability of this Multi-Family Home for sale in Kirkland Lake.

While the property excels in many areas, it is important to note that it does not feature a kitchen, bathrooms, or a family room, which may require consideration for potential investors. However, the absence of these amenities is offset by the strong rental demand in the area, as well as the property’s attractive features and location. The partial unfinished basement offers additional potential for future development or storage, allowing for further enhancement of the property’s value.

The building is equipped with forced air heating, ensuring warmth during the colder months, and benefits from municipal water and sewer services, adding to the convenience for tenants. Although there is no air conditioning, fireplace, or central vacuum system, the property is furnished with internet access, which is a vital amenity for modern living. Parking is also available, with space for two vehicles on the private driveway, making it easy for tenants to come and go as they please.

This Multi-Family Home for sale in Kirkland Lake is situated on a lot measuring 39 X 100 feet, with additional land of less than 0.50 acres. This generous space provides ample room for outdoor activities or potential future expansions. The property, aged between 51 to 99 years, carries a sense of history and character that can be appreciated by both investors and tenants alike.

In summary, this Multi-Family Home for sale in Kirkland Lake at 79 Main Street, Kirkland Lake, presents a compelling investment opportunity with its fully tenanted status and impressive income potential. With its prime location, strong rental demand, and the unique combination of character and modern updates, this triplex is a valuable addition to any investment portfolio. Don’t miss out on the chance to own a piece of real estate in the thriving KL & Area community. Whether you are an experienced investor or new to the market, this property offers the perfect foundation for your investment journey. Seize the opportunity today!

KL & Area, situated in the charming town of Kirkland Lake, is a picturesque region known for its stunning natural beauty and rich history. Nestled amidst lush forests and sparkling lakes, this area offers a serene environment perfect for outdoor enthusiasts and nature lovers alike. The community is characterised by its welcoming atmosphere, where residents enjoy a close-knit feel while benefiting from the amenities of a small town. With a blend of recreational activities, cultural events, and a strong sense of local pride, KL & Area presents an inviting opportunity for those seeking a tranquil yet vibrant lifestyle in Northern Ontario. Whether you’re drawn by the scenic landscapes or the friendly neighbourhood spirit, this community promises a fulfilling place to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest option is Central Public School, situated just 1.2 km away, offering grades JK to 6 with a French language of study. Following closely is Kirkland Lake District Composite School, located 1.7 km from the property, which caters to students in grades 7 to 12, also providing education in English. Additionally, Federal Public School is 2.1 km away, serving grades JK to 6 in English. All these schools are part of the District School Board Ontario North East, ensuring a consistent educational standard. While the school ratings are currently not specified, the proximity of these institutions offers a variety of educational pathways for children of different ages. The area is well-suited for families seeking accessible schooling options within a short distance, enhancing the appeal of this property.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 508 residents as of 2021. The average household size is 2.1, indicating a mix of family types, with 42.86% of households having children. The average age of residents is 43.8 years, suggesting a mature population. Economically, the area has an average household income of $74,500, with 14% of the population classified as low-income. The average property price stands at $164,000, making it relatively affordable. A significant portion of the population, 43.9%, is single, while 27.08% are renters, indicating a diverse housing landscape. Education levels are notably high, with 46.75% of residents holding a college or university degree. However, a considerable 50.65% of the population is not in the labor force, which may reflect various factors such as retirement or caregiving responsibilities. Immigrants constitute a small percentage at 2.17%, suggesting a predominantly local demographic. Notably, there are no condominiums in the area, which may appeal to buyers looking for single-family homes or other housing types. Overall, this community offers a blend of family-oriented living with educational opportunities and a moderate economic environment.