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    For Sale - 44 Koval Street, Pickle Lake, Ontario

    Est payment $9,172/mo
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    Views   3
    Time on Jump  64 day

    AI Summary *

    • Opportunity to own a 23-unit multifamily property on 2.84 acres.
    • Mix of 11 one-bedroom and 12 two-bedroom rental units available.
    • Potential for additional income with garage and storage space conversions.
    • Located in a community with year-round access and vital services.
    • Great outdoor recreation opportunities with fishing and hunting nearby.




    44 koval street offers the opportunity to acquire a 23-unit multifamily property situated on a large 2. 84-acre site in pickle lake, ontario. The property generates a year 1 net operating income of approximately $135,752, representing an attractive 7. 1% cap rate at the current asking price. The property features a practical suite mix of 11 one-bedroom units and 12 two-bedroom units, providing rental housing in a northern market with limited supply. The property includes a 12-car garage that provides a meaningful value-add opportunity. Two bays have been converted into office space, while additional bays are currently being converted into storage units. The storage program has the potential to expand to 25 units. The completed storage program could generate an estimated $30,000 in additional annual revenue. This and other adjustments to the revenue stream have the potential to push the cap rate over 10% in the first 5 years, making it a very attractive investment opportunity. Pickle lake is ontario's northernmost community with year-round, all-weather road access and functions as an important northern service, transportation, airport cargo and supply hub. The community supports surrounding remote northern communities, winter-road activity, resource-related operations and access to the ring of fire region. Pickle lake is also well known for fishing, hunting and outdoor recreation, reinforcing its role as both a residential community and a gateway to northern ontario's wilderness.
    Listing IDX13445348
    Address44 Koval Street
    CityPickle Lake, Ontario
    Price$1,910,000
    StyleInvestment
    Land Size2.84
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentBasement 1Heating / Cooling RadiantSewer Sanitary

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    Listing Agency:  COLLIERS

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    44 Koval Street
    Pickle Lake , Ontario
    $1,910,000
    Get more info