$5,388,888
Available - For Sale
Listing ID: X11881202
124 Cedar St , Greater Sudbury, P3E 1B4, Ontario
| Discover this remarkable 24,000 sq ft commercial-residential mixed-use property offering incredible income potential and a proven high return on investment. Situated in a prime location, this asset is a standout opportunity for seasoned investors and developers alike.Key Features:1.Outstanding Income Return:oCurrent net profit: $675,557.13 annually, equating to a 12.75% net income return.oPost-conversion potential: $766,182 annual net profit, yielding an enhanced 14.45% net return.2.High-Value Asset with Significant Upside:oAppraised at $7.25M by a bank-approved appraiser.oMarket value projected to exceed $9M upon conversion to a 100% residential property.3.Existing Configuration:o12,000 sq ft of prime retail and office space.oResidential units: 4 studios, 8 one-bedroom apartments, and 8 two-bedroom apartments.4.Conversion Potential:oAfter transformation, the property will feature 6 studios, 8 one-bedroom apartments, and 28 two-bedroom apartments, catering to high-demand residential needs.5.Renovation Incentives:oGuaranteed renovation cost: Only $650,000, after factoring in city-supported CIP grants and interest-free loans.oBoosted rental income: Conversion results in a $90,625 annual increase in net rental income.6.Favorable Financing Options:oCMHC loan eligibility upon issuance of building permits.oLoan covers 100% of conversion costs at a competitive 4% interest rate.Why This Property?With strong current returns, significant upside from planned conversions, and the city-backed incentives to minimize costs, this property represents a rare blend of high yields, manageable risk, and long-term value appreciation.Don't miss this exceptional investment opportunity in the thriving City of Sudbury. |
| Price | $5,388,888 |
| Taxes: | $59794.10 |
| Address: | 124 Cedar St , Greater Sudbury, P3E 1B4, Ontario |
| Directions/Cross Streets: | Lisgar St. |
| Rooms: | 42 |
| Family Room: | Y |
| Approximatly Age: | 31-50 |
| Property Type: | Other |
| Style: | Other |
| Exterior: | Alum Siding, Concrete |
| Garage Type: | Other |
| Drive Parking Spaces: | 6 |
| Pool: | None |
| Approximatly Age: | 31-50 |
| Approximatly Square Footage: | 5000+ |
| Fireplace/Stove: | N |
| Heat Source: | Electric |
| Heat Type: | Baseboard |
| Central Vac: | N |
| Elevator Lift: | Y |
| Sewers: | Sewers |
| Water: | Municipal |
$
%
Years
This calculator is for demonstration purposes only. Always consult a professional
financial advisor before making personal financial decisions.
| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| BAY STREET GROUP INC. |
|
|
Dir:
1-866-382-2968
Bus:
416-548-7854
Fax:
416-981-7184
| Book Showing | Email a Friend |
Jump To:
At a Glance:
| Type: | Freehold - Other |
| Area: | Greater Sudbury |
| Municipality: | Greater Sudbury |
| Neighbourhood: | Sudbury |
| Style: | Other |
| Approximate Age: | 31-50 |
| Tax: | $59,794.1 |
| Baths: | 42 |
| Fireplace: | N |
| Pool: | None |
Locatin Map:
Payment Calculator:
- Color Examples
- Red
- Magenta
- Gold
- Black and Gold
- Dark Navy Blue And Gold
- Cyan
- Black
- Purple
- Gray
- Blue and Black
- Orange and Black
- Green
- Device Examples