6 Bay View Court West Nipissing, Ontario P0H 2M0

$3,695,000

10 Detached Homes with Waterfront Plus Redevelopment Potential for 50+ Residential Units or a 45+ Suite Hotel! This property offers a unique investment opportunity! It includes five separate lots (five PINs: PIN 490790239, PIN 490790992, PIN 490790228, PIN 490790240, PIN 490790992), currently featuring ten detached homes, one large and one smaller workshop, and approximately 350 feet of water frontage on Minnehaha Bay, part of Lake Nipissing, in Sturgeon Falls (approximately 3 hours north of the GTA).The site is within walking distance of downtown Sturgeon Falls and located approximately 20 minutes west of North Bay, 1 hour south of Sudbury, and roughly 3 hours north of the GTA. This unique location is fully serviced by all municipal utilities, making it an excellent candidate for future development. There is also an opportunity to acquire the adjacent property at 314 King Street, which includes a triplex and a large lot that could be used for additional parking or further expansion. Currently, all 10 homes on the property are fully rented, generating steady income with the potential for increased revenue making this an attractive income-producing asset. A preliminary design concept has been prepared (available for review), supporting potential redevelopment into 50+ residential units or a 45+ suite hotel, both of which have strong local support. (id:60365)

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https://www.realtor.ca/real-estate/28540990/6-bay-view-court-west-nipissing-sturgeon-falls-sturgeon-falls