4319 Highway 11 N Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1B 8G3
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,093 sqft
Price per Sqft $223
MLS Listing ID 40600933
Abv Grd Liv Area 5,093
Originating Board North Bay
Annual Tax Amount $11,642
Lot Size 1.028 Acres
Acres 1.028
Property Description
Seller willing to hold a second VTB mortgage to cover your down payment. Want a cash flowing property that meets the 1% rule? What will the property cash flow produce as interest rates decline? Turnkey 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 $137410 with expense calculation including property management, vacancy and maintenance equaling $58571 giving a net income before mortgage of $78838. 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.
Location
Province ON
County Nipissing
Area North Bay
Zoning RC Sp.22 with SPC
Direction Hwy 11 North of North Bay 10 minutes to property
Rooms
Other Rooms Storage
Basement None
Kitchen 0
Interior
Interior Features Separate Heating Controls
Heating Baseboard,Electric,Forced Air,Natural Gas
Cooling None
Fireplace No
Appliance Hot Water Tank Owned
Laundry Coin Operated
Exterior
Exterior Feature Lighting,Year Round Living
Garage Gravel
Waterfront No
Roof Type Asphalt Shing
Lot Frontage 210.0
Lot Depth 210.0
Parking Type Gravel
Garage No
Building
Lot Description Rectangular,Ample Parking,Highway Access,School Bus Route,Visual Exposure
Faces Hwy 11 North of North Bay 10 minutes to property
Story 1
Foundation Concrete Block,Slab
Sewer Septic Tank
Water Well
Level or Stories 1
Structure Type Vinyl Siding
New Construction No
Others
Senior Community false
Tax ID 491270016
Ownership Freehold/None