Description
### **Investment Opportunity - 505 Laforest Ave, Sudbury, ON** Welcome to **505 Laforest Ave**, a prime multi-unit investment property in the heart of **Greater Sudbury**! This well-maintained, newly upgraded **9-unit residential building** offers an excellent opportunity for investors looking for a strong return in a thriving rental market. The property consists of one 3-bedroom unit, six 2-bedroom units, one 1-bedroom unit, and one studio unit, along with an unfinished 1,000 sq. ft. basement with potential for conversion. With a current cap rate of **8.13%** and a potential cap rate of **10.89%**, this property generates an annual income of **$175,632**, with the potential to increase to **$219,540** through rental adjustments and additional revenue streams, including coin laundry, garage rentals, and a vending machine. Many of the units have been newly renovated between 2022 and 2024, featuring modern finishes and updated appliances, ensuring a well-maintained and attractive living environment for tenants. Over 350k Worth renovations have been done in property in last 2 years, including whole electrical system. Located in a thriving Sudbury neighborhood, 505 Laforest Ave offers easy access to schools, parks, shopping centers, and restaurants, making it highly desirable for renters. Nearby amenities include Sudbury Secondary School and St. Charles College, grocery stores such as Food Basics and Your Independent Grocer. Sudbury’s real estate market is an attractive investment opportunity, with a **booming economy** supported by strong industries in mining, healthcare, and education. The city offers **high rental demand**, consistent occupancy rates, and strong property appreciation, making it an ideal location for real estate investors. Affordable real estate prices, coupled with ongoing infrastructure development, position Sudbury as a growing investment hotspot with promising long-term returns. (id:13843)
Details
| MLS # | 2121074 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 134 |
| Listing Provided By | RED AND WHITE REALTY INC. BROKERAGE | ABHI PATEL |
Features
| Basement | Y |
|---|---|
| Units | 9 |
| Zoning | R3(55) |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Sudbury |
| Postal Code | P3C5J5 |
