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29 LAREN STREET, Greater Sudbury (Sudbury) — listed at $2,999,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
18-Unit Multi-Residential Investment - Greater Sudbury, ONThis is not your average income property.Located on a quiet dead-end street just 10-15 minutes from New Sudbury, this fully tenanted 1.2-acre property offers 18 rental units across three property types on one title - eight townhomes, a nine-unit apartment building, and a large five-bedroom home.The eight townhomes are the standout cash flow asset. Each has three bedrooms, 1.5 bathrooms, a full basement, and a private backyard. Tenants pay all their own utilities - heat, hydro, and water - separately metered with individual gas furnaces and water heaters. In Northern Ontario's climate, this significantly reduces your operating costs and protects margins year-round.The nine-unit apartment building offers a stable tenant base with coin-operated laundry, secure storage lockers, and newer high-efficiency Viessmann boilers - meaning low heating costs and no major mechanical expenses on the horizon.Attached to the apartment building is a spacious five-bedroom home with vaulted ceilings, in-suite laundry, a den, and an attached garage - ideal for an owner-occupier or premium rental. A massive 24' x 50' detached triple-car garage adds further utility and income potential.Current rents are below market, giving the next owner a clear and built-in path to grow income over time without additional capital investment. Eighteen units on one property also means one insurer, one maintenance contact, and one property manager - straightforward and efficient to operate.Greater Sudbury's rental market is backed by mining, healthcare, government, and two post-secondary institutions - keeping vacancy rates low and demand steady. For investors priced out of Southern Ontario, this market still delivers returns that make financial sense.Fully tenanted. Turn-key. Priced for a quick sale. (id:60164)
How is the home heated? Is it efficient?+
Heating is baseboard heaters, radiant heat, forced air, electric, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 43 bedrooms and 18 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
What's the parking situation?+
This property includes 20 spaces — Attached Garage, Garage.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $29,722.28, heating is baseboard heaters, radiant heat, forced air, electric, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Is 29 LAREN STREET a good fit for a growing family?+
With 43 bedrooms and 18 bathrooms, there's room for kids plus a guest room or home office. The 2-storey layout keeps living and sleeping areas separated.
What makes this a luxury property?+
At $2,999,900, standout features include 18 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
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