Exceptional investment opportunity in the highly desirable Minnow Lake neighbourhood! This well-maintained fourplex with an additional one-bedroom in-law suite offers investors a rare combination of strong income potential, extensive capital improvements, and long-term value. Ideally situated close to shopping, public transit, schools, restaurants, and other everyday amenities, this property continues to attract quality tenants in a high-demand rental market. Pride of ownership is evident throughout, with numerous recent updates that minimize future maintenance and enhance tenant appeal. Over the past several years, multiple units have been renovated, including modern kitchen upgrades, new waterproof luxury vinyl plank flooring, refreshed bathrooms, updated Slant/Fin radiator heating, fresh paint, and numerous interior improvements. The building has also benefited from significant mechanical upgrades, including improvements to the boiler heating system, updated electrical panels with separate hydro meters for each unit, newer windows, and a recently updated coin-operated laundry facility. Ample on-site parking adds further convenience for tenants, while the property's R1-5 LNC (Legal Non-Conforming) zoning provides a proven, established multi-family investment. Whether you're looking to expand an existing portfolio or acquire a turnkey income property with documented improvements and excellent rental appeal, this is an outstanding opportunity to own a quality asset in one of Greater Sudbury's most sought-after neighbourhoods. (id:4069)
Address
2005 Richard Street
List Price
$1,049,900
Property Type
Other
Transaction Type
Sale
Area
Ontario
Sub-Area
Sudbury
Frontage Length
73 ft
MLS® Number
2130990
Listing Brokerage
ROYAL LEPAGE NORTH HERITAGE REALTY, BROKERAGE
Postal Code
P3B1Y1
Zoning
R1-5
Ownership
Freehold
Heat Type
Boiler, Hot Water
Foundation Details
Block
Water Source
Municipal water
Access To Property
Year-round access
Sewer
Municipal sewage system
