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495-497 Ferguson Ave, Haileybury

Haileybury, ON P0J 1K0

$4,100,000

INVESTMENT HIGHLIGHTS

26 Unit multi-residential
17 x 2 bedroom
3   X 1 Bedroom
6   X Bachelor

Lot Area: 12,646.74 square feet
Property PINs: 613970931, 613970182, & 613970932
ANnual Taxes: $36,367 (2021)

Market rents with room for growth

flexible management contract

less than 10 years old

fully tenanted with high occupancy demand

Welcome to Renaissance Place!

Take advantage of this considerable investment opportunity in Temiskaming Shores. This 26 unit multifamily offering was finished in 2015.

The building features a FOB entry system, high efficient LED light fixtures and gas boilers. All suites have stainless steel appliances and coin laundry is onsite located in each basement.

The property features spectacular Management and Superintendent offices. Board room with kitchenette and full washroom.

 This property is fully occupied with high demand for tenancies. Continued need for labour in the Forestry, mining & support services ensure no end to the list of high-quality tenants.

If you’ve been looking for a stable, turn-key investment opportunity, this one’s for you!

Temiskaming Plant Ready to Process Silver

The Company announced that its Temiskaming Testing Labs (TTL) in the town of Cobalt is fully operational and ready for processing mineralized material into silver dore bars in its 20,000 s.f. facility

Northern College & Agnico Mines announce FREE Employee Training Program

It is a $4.58 million project between Agnico Eagle Mines Limited, which has two gold mines in northern Ontario, and Northern College’s training division is being funded through Ontario’s Skills Development Fund.

EACOM Timber Corp. Filling Forestry Job Gap with International Workers

The forestry company has been working with IVEY Group, a Sudbury international recruitment and consulting firm, to recruit and retain workers in northern communities.

The partnership has been ongoing for several years, according to Jean Brodeur, EACOM’s director of communications and government relations.

Provincial Plan to Bring Rail Service from Toronto to Timmins

The announcement is a more formal announcement based on what was included in the Ontario budget released in March, which included $5 million for planning and design work to bring passenger rail back in service.

Share of Labour Force by Occupation

(Environ Analytics)

Northern Ontario – A Golden Opportunity

65 6th Ave is Located in the town of Temiskaming Shores, ON. This town is driving distance to both Kirkland Lake, ON and North Bay, ON.

Both these communities are undergoing continued expansion and demand for workers in mining, forestry, & support industries remains heavy, with multiple mining companies offering large signing bonuses to workers.

 

The Median income in Temiskaming Shores is $61,327 and the median age is 51. (Source: Environ Analytics)

 

Financials

495 Ferguson Ave
Income
Gross Rent $366,624.00
Laundry Income $6,900.00
Air Con / Winter Plugs Income $2,273.40
Total Income $375,797.40
Expenses
Hydro $18,237.93
Insurance $10,305.60
Property Taxes $36,367.00
Snow Removal $3,390.00
TV/Internet $10,021.65
Management/Cleaning $12,000.00
Gas $7,553.06
Total Expenses $97,875.24
NOI $277,922.16
Cap 5.24% $4,556,100.98
Rents - 495 Ferguson Ave
Bedrooms Rent
Bachelor $875.00
Bachelor $850.00
Bachelor $733.00
2 $1,214.40
2 $1,012.00
2 $1,214.40
2 $1,340.90
2 $1,200.00
2 $1,467.40
1 $1,012.00
Bachelor $708.40
2 $1,239.70
2 $1,340.90
2 $1,340.90
2 $1,467.40
2 $1,366.20
1 $1,163.80
Bachelor $850.00
2 $1,366.20
2 $1,375.00
2 $1,012.00
2 $1,492.70
2 $1,525.00
1 $1,225.00
Bachelor $759.00
2 $1,400.00
Total Monthly Rent $30,552.00
Total Annual Rent $366,624.00

Graham F. Alloway

Broker, President

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