$1,140,000
FOR SALE

Multiplex

Lot: 210 x 210 ft

4319 Hwy 11 N
North Bay, ON P1B 8G3

Turnkey cash flowing 13 Unit residential complex sitting on 1 acre consisting of a newly renovated 3-bedroom stand-alone house, and a 12 unit converted motel rezoned in 2022 with 11 bachelor units and 1x1 bedroom unit. Gross rents are $135,791 with expense calculation including property management, vacancy and maintenance equaling $50,155 giving a net income before mortgage of $85,636. This complex has only 7 units close too or at market rent giving the new owner room to lift their investment when the remaining 5 tenants move out. Many supporting docs on including new shingles with ice guard to peak 2023, site plan control showing all buildings parking etc., water testing and well reports, zoning confirmations, fire retrofit 2014 and of course a detailed income and expenses report. 3 Bedroom house just received occupancy permits from city, previous fire remediation and recently renovated. Any touched renovations done to current code including electrical, gas furnace, framing, drywall etc. 4 older septics, drilled well with engineering reports under MOE guidelines. (id:47421)
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Listed By REALTY EXECUTIVES Local Group Inc. Brokerage
Data Provided By North Bay and Area REALTORS® Association
MLS® Listing Number 40522481
Last Updated Mar 14, 2024
Property Summary
Property Type Multiplex

More like this:
Subdivision College Heights
Price History

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Detailed Information
Lot 210 x 210 ft
Community Features School Bus
Features Visual exposure, Crushed stone driveway, Laundry- Coin operated
Listing Contract Date 2023-12-18
Location Description Hwy 11 North of North Bay 10 minutes to property
Ownership Type Freehold
# of Parking Spaces 18
Property Type Multi-family
Transaction Type For sale
Zoning Description RC Sp.22 with SPC
Building
Basement Type None
Cooling Type None
Exterior Finish Vinyl siding
Foundation Type Block
Heating Fuel Electric, Natural gas
Heating Type Baseboard heaters, Forced air
Stories Total 1
Utility Water Well
Land
Total Size 1.028 acres
Access Type Highway access
Acreage Yes
Sewer Septic System
Size of Irregular Land 1.028

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