Added 1 month ago
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Type: Investment
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Property Type: Commercial
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Business Type: Apts-2 To 5 Units
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Zoning: R3
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Age: No Data
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Taxes: 5400
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MLS®#: X11990948
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Days on Site: 7 Days
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Added: Feb 27, 2025 (1 month ago)
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Updated:
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Last Checked: 2 weeks ago
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Listed By: Royal LePage Northern Life Realty, Brokerage
Attention investors, here is the solid return you have been searching for. This is a centrally located, legal four plex consisting of 2-2 bedroom and 2- 1 bedroom units. The larger units have had extensive renovations completed on them along with upgrades to the furnace (2018) and metal roof ( 2020). This building currently generates $61,800 in gross income per year providing a net operating income of almost $43,000 a year. That's over a 7% cap rate. There is lots of room for rent increases as some tenants leave. This is a very well maintained building that would make an impressive addition to any investment portfolio.
Property
Status: Sale
Type: Apts-2 To 5 Units
Property Type: Investment
Property Type: Apartment
Net Income: 42732
Area: North Bay
Community: Central
Availability Date: TBD
Assessment Amount: $311,000
Assessment Year: 2025
Inside
Air Conditioning: N
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Gas Forced Air Open
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Covered Parking Spaces: 2
Fees
Tax Year: 2024
Tax Legal Description: LT 248 PL 54 WIDDIFIELD; NORTH BAY ; DISTRICT OF NIPISSING
Taxes: $5,400
Expenses: Act
Insurance Fee: 416
Operating Fees: 17173
Hydro Expense: 275
Heat Expenses: 248
Taxes Type: Annual
Taxes: 3500
Water Fees: 200
Land
Cross Street: Cassells St & Fifth
Municipality District: North Bay
Parcel Number: 491550104
Sewer: San+Storm
Lot Depth: 117 Feet
Lot Frontage: 40.25 Feet
Zoning: R3
Commercial Specific
Sprinklers: N
Total Area: 0.1
Total Area Metric: Acres
Tangible Property Included: Y
Lot Code: Lot
Financial Statement: N
Gross Income/Sales: 5150
Very Walkable
- Most errands can be accomplished on foot.
Very Bikeable
- Most errands can be accomplished on bike.
Mother St Bride School
Elementary: CatholicÉcole séparée Saint-Vincent
Elementary: CatholicÉcole secondaire catholique Algonquin
Elementary: CatholicSt Hubert Separate School
Elementary: CatholicChippewa Intermediate School
Elementary: PublicAlliance French Immersion Public School
Elementary: PublicÉcole secondaire publique Odyssée
Secondary: PublicWest Ferris Secondary School
Secondary: PublicÉcole secondaire catholique Algonquin
Secondary: CatholicChippewa Secondary School
Secondary: PublicWiddifield Secondary School
Secondary: PublicSt Joseph-Scollard Hall Secondary School
Secondary: Catholic-
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