511-513 St-Philippe Street, Alfred and Plantagenet, ON

Description

This exceptional mixed-use investment opportunity in Alfred offers a rare combination of scale, stability, and significant upside potential. Set on approximately 3.7 acres, the property benefits from multiple access points, including direct highway access, providing excellent visibility, accessibility, and operational efficiency. The property includes 30 residential units plus 1 commercial unit, with a portion of the residential dwellings currently owner and family-occupied. This presents immediate upside potential, as full market rental of these units would further enhance overall income performance. There is also additional potential to convert up to 2 more residential units. The main income cluster consists of the former Motel Rouleau, successfully converted into 16 fully rented bachelor-style residential units, along with a shared coin-operated laundromat for tenants. Attached is a two-storey residence offering flexibility, including two kitchens already in place and the option to convert the main level back into a duplex. The basement is currently operating as a nail salon (tenant vacating upon sale), providing an immediate opportunity to convert back into an additional residential unit. Adjacent is another self-contained residential unit. To the west, a separate 10-plex offers all 1-bedroom units, with its own laundromat and dedicated parking. The property also includes a large well-maintained bungalow with an attached garage & another renovated bungalow currently tenant occupied. The basement of this bungalow has been converted into 12 fully rented storage units. With strong in-place tenancy, diversified income across residential, commercial, and storage components, and upside through occupancy optimization and future conversions, this is a rare turnkey portfolio with exceptional income stability and long-term growth potential.