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For Sale | Multi-Family Available

23 UNIT VALUE ADD MULTI-FAMILY OPPORTUNITY

286-296 SAGUENAY AVENUE
Oshawa, ON L1J 2M8
Canada
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Sale Price:
5250000 CAD
Construction Status:
Built
Year Built:
1960
Key Features
  • VALUE ADD OPPORTUNITY
  • • Limited turnover combined with soaring growth in market rental rates has created an 89% spread between in
  • place rents and market rents
  • • Significant value add opportunity with high ceiling for terminal value
  • • Neighbouring properties are institutionally owned and managed, improving the micro-rental market
  • MAJOR REPAIRS COMPLETE
  • • Both roofs replaced in 2017
  • • New boiler systems installed in 2018
  • • Main drains replaced in 2022
  • • Full wall siding replaced
  • • Windows capped

PRIME LOCATION IN BUOYANT OSHAWA RENTAL MARKET

• Centrally located in near proximity to the downtown economic hub of Oshawa which continues to gentrify amidst GTA population growth.

• Monthly apartment rents experienced 12.4% YOY growth in 2022

• Condo apartment prices increased by 12.6% YOY while detached, semi-detached and townhouse prices decreased by ~15% in 2022

• Average apartment vacancy rates of 2.1% compared to the Ontario average of 3.4%

• One of the fastest growing populations in Canada, with an increase of 10.0% in 2021

• Significant barriers to entry for new supply of affordable rental product

• Strong job market with healthcare, education and public administration driving employment

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Brokers

Geoff Roberts
Geoff Roberts

Sr. Associate, Capital Markets
Toronto, Canada

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