2 Tessier Drive, Penetanguishene, ON L9M 1V4, Penetanguishene, ON
Bed 13
Bath 12
If you are looking for an absolutely turn key 12-unit apartment building, this is it. Priced at a 6.2 cap rate. This building has had extensive renovations in the past 5 years. You will not find a better investment opportunity. 9 one-bedroom apts and 2 one-bedroom with dens and 1 two-bedroom with new kitchens, bathrooms, flooring, doors, trim, some new electrical and plumbing, drywall, heating, laundry room, security room, paved parking, appliances, fire and smoke system, and revamped decks. Great downtown Penetanguishene location, walking distance to shopping, restaurants, and a beautiful trail system along the waterfront park on Georgian Bay.Very easy to find quality tenants in this location. Minimum 36 hours' notice to show the building. First visit, we will set up only 3 apartments to give you a good feel of the property. Listing agent must be present for all showings. Financials available upon request.
Property Highlights
For Sale
MLS NO.
S12567720
Type
Residential Freehold
Sub Type
Multiplex
Bedrooms
13
Bathrooms
12
Parking
14.0
Complete Property Details
Property Type
Residential Freehold
Sub Type
Multiplex
Transaction Type
For Sale
Status
Expired
Contract Status
Unavailable
MLS® Number
S12567720
Living Area Range
5000 +
Total Bedrooms
13
Bedrooms Above Grade
13
Total Bathrooms
12
Total Kitchens
12
Kitchens Above Grade
12
Rooms Above Grade
38
Interior Features
Separate Heating Controls, Separate Hydro Meter, Storage, Water Heater Owned
Fireplace
No
Central Vacuum Yn
No
Security Features
Heat Detector, Smoke Detector, Security System
Construction
Brick, Vinyl Siding
Roof
Asphalt Shingle
Lot Width
94.0
Parking Features
Private, Unreserved
Parking Total
14.0
Covered Spaces
0.0
Garage Type
None
Garage
No
Pool
None
Direction Facing
South
Cooling
None
Heat Source
Electric
Heat Type
Baseboard
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
2 Tessier Drive, Penetanguishene, ON L9M 1V4
City
Penetanguishene
Neighbourhood
Penetanguishene
County / Region
Simcoe
Province / State
ON
Postal Code
L9M 1V4
Cross Street
Main Street
Directions
Main Street to Tessier Drive
Country
CA
List Price
$2,980,000
Annual Taxes
$15,860
Tax Year
2025
Legal Description
PT LT 1 N/S WATER ST, 2 N/S WATER ST PL 9 PENETANGUISHENE PT 1, 51R12152 & PT 2, 51R11066; T/W RO161445; PENETANGUISHENE
Possession Type
Flexible
Listing Office
Team Hawke Realty
Board
One Point Association of REALTORS
Original Entry
2025-11-21T20:02:11Z
Media Updated
2025-12-08T16:59:48Z
Photos Updated
2025-11-24T15:35:23Z
Last Modified
2026-03-01T05:17:06Z
System Modified
2026-03-01T05:17:06.321264Z
MLS Status
Expired
Architectural Style
3-Storey
Basement
Crawl Space, Unfinished
Co List Office Name
Team Hawke Realty
Ddfyn
Yes
Expiration Date
2026-02-28
Foundation Details
Block
Heat Source Multi
Electric
Heat Type Multi
Baseboard
Hstapplication
Included In
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
584320107
Parking Spaces
14
Property Features
Level, Marina, Park, Place Of Worship, Waterfront, School Bus Route
Public Remarks
If you are looking for an absolutely turn key 12-unit apartment building, this is it. Priced at a 6.2 cap rate. This building has had extensive renovations in the past 5 years. You will not find a better investment opportunity. 9 one-bedroom apts and 2 one-bedroom with dens and 1 two-bedroom with new kitchens, bathrooms, flooring, doors, trim, some new electrical and plumbing, drywall, heating, laundry room, security room, paved parking, appliances, fire and smoke system, and revamped decks. Great downtown Penetanguishene location, walking distance to shopping, restaurants, and a beautiful trail system along the waterfront park on Georgian Bay.Very easy to find quality tenants in this location. Minimum 36 hours' notice to show the building. First visit, we will set up only 3 apartments to give you a good feel of the property. Listing agent must be present for all showings. Financials available upon request.
