Established Apartment & Lodging House Business for Sale ….at: 238 Villa Street, Thunder Bay, Ontario, Canada
Business Opportunity: to purchase an established rental business…featuring a housing capacity of 3 apartments and 6 lodging (3 single & 3 double), bedsitting rooms with shared kitchen and bathrooms.
Villa House is an excellent established residential rental business. An opportunity for self-employment within the City of Thunder Bay, Ontario, Canada.
Another option may be a co-ownership arrangement, where more than one person (s) or organization (s) jointly purchase the building and share its use.
Villa House offers an ideal opportunity for local person (s), investors from within or out of town or a potential immigrant business entrepreneur from abroad who wants to move to Canada and ultimately settle in Thunder Bay.
Villa House prides itself functioning as a sort of “Home Away from Home”; The furnished apartments are for people who work in the area and need lodging for sleep, rest, safety, shelter, storage and access to common household amenities.
Lodging rooms are self-catering in which case no food is laid on but cooking facilities are available.
“Lodging House” means any building or part of a building which contains four (4) or more Lodging Units or is used or available for use by four (4) or more Lodgers. The term excludes: hotels, motels, bed and breakfast establishments, hospitals, nursing homes, foster homes, group homes, homes for the young or the elderly, institutions which are licensed, approved or supervised under any other general or special legislation.
“Lodger” means any person who, for consideration, is harboured, domiciled, received, or lodged in a Lodging House.
“Lodging Unit” means a room or a suite of rooms set apart for the use of a Lodger which do not meet the definition of “dwelling unit” under the City’s Zoning By-law.
Villa House offers a viable housing option for students, single or family tenants, seasonal or other traveling workers, empty nester widows or widowers, or others who don’t desire or require large dwellings or private domestic appliances. The smaller size and limited amenities at Villa House makes short term 1 to 4 month or longer accommodations an affordable housing option.
The Marina Park waterfront is undergoing a major multi-million-dollar ongoing development. This waterfront development will add value in due time to Villa House.
Villa House has been retrofitted to meet local building codes and municipal licensing requirements; and, is modified with other important additional ergonomic safety devices.
The legal and licensed housing capacity is 3 self-contained apartments, one family suite in the basement as an extension of apartment number 2, and 6 licensed lodging and bedsitting rooms…3 single and 3 double rooms. The lodging bedsitting rooms, are furnished, feature shared kitchens and bathrooms down the hall.
The total housing capacity and rentable units (3 apartments & 6 Lodging rooms) are nine sleeping units; which could potentially facilitate a total of 14 people.
The combined floor space of 4 floors is 4008 sq. ft. (372 sq. m); the double car garage has 500 sq. ft. (46 sq. m); the double corner lot has 4500 sq. ft. (418 sq. m) with 3 separate driveways to yield onsite parking.
Floor Plan Level 1….basement below grade
Basement Level1…Unit 1, Owner occupied in-house office/family suite
Basement level 1…Boiler room…contains newer hot water boiler, 222 000 BTU
Floor Plan Level 2…ground floor…apartment unit 1 & 2 …and main electrical room
Electrical room…main shut switches
Apartment Unit 2…ground floor, covered entry…one bed room apartment
Apartment Unit 3 unit…ground floor, covered entry…one bed room apartment
Floor Plan Level 3…upper floor…entrance to lodging house and apartment unit 10
Main Upper Floor Entrance…main stairway and shared entry to lodging rooms, private and shared activity space and apartment unit 10
Shared kitchen…for lodging house tenants
Shared bathroom…for lodging house tenants
Lodging and sleeping unit 4
Lodging and sleeping unit 5
Lodging and sleeping unit 6
Lodging and sleeping unit 7
Top-Floor floor plan…lodging rooms 8 & 9….and apartment unit 10
Lodging and sleeping unit 8
Lodging room and sleeping unit 9
Apartment Unit 10
My selling price is $489.900.00 USD…for more information on pricing, please get in touch with me.
I am willing to renovate where possible to suit the new owner. I do have future development planning in place as I have shown in the 3 illustrations below; for this, you may ask me to share these plans…or ask me to do part or all of this work for you for an additional cost.
For more information on Villa House, please get in touch with me.