Property Information:
Welcome to the Red School Apartments in Englehart, ON, where historic charm meets modern living. This meticulously converted 15-unit building, once a bustling schoolhouse, is now a multifamily gem just 2 hours north of North Bay. It combines the allure of northern investment with attractive cap rates and the stability of multi-residential assets. Englehart, known as ""The Little Town With the Big Heart,"" is a vibrant community rich in natural beauty and bustling with activities. Positioned halfway between Kirkland Lake and Temiskaming Shores, the building taps into a diverse workforce from mining, forestry, education, and business support services. This location not only assures steady demand but positions Red School Apartments as a central hub in a town celebrated for its welcoming atmosphere and progressive outlook. The property boasts modern amenities including on-site coin laundry and full TV/internet capabilities, ensuring comfort and convenience. Each unit's appeal is heightened by the town's robust offerings like Kap-Kig-Iwan Provincial Parks scenic trails and a range of local eateries and shops that cater to both families and outdoor enthusiasts. Fully tenanted with a history of high demand upon vacancy, Red School Apartments offers investors a turn-key solution with promising returns. Embrace the opportunity to invest in a property that stands at the crossroads of heritage and modernity, in a town where every season brings its own charm and a community that supports and thrives together. **** EXTRAS **** Well maintained offering. Sturdy brick construction with a purpose-built interior. Offered at 4.1% cap rate. Centrally located and close to all downtown amenities. Plenty of parking & access to winter plugs. (id:27)
Building Features:
-
Style:
Fourplex
-
Building Type:
Multi-Family
-
Air Conditioning:
Yes
-
Floor Space:
14832.65
-
Heating Type:
Baseboard heaters
-
Cooling Type:
Partially air conditioned
