4319 HIGHWAY 11 N/A N Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1B 8G3
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 5,093 sqft
Price per Sqft $223
MLS Listing ID X10708044
Annual Tax Amount $11,642
Tax Year 2024
Lot Size 0.500 Acres
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
Community College Heights
Area Nipissing
Zoning RC Sp.22 with SPC
Region College Heights
City Region College Heights
Rooms
Basement None
Kitchen 0
Interior
Interior Features Separate Heating Controls
Cooling None
Inclusions 13 Fridges, 13 Stoves, coin op washer dryer, Hot Water Tank Owned
Laundry Coin Operated
Exterior
Exterior Feature Lighting,Year Round Living
Parking Features Other
Garage Spaces 18.0
Pool None
Utilities Available Unknown
Roof Type Asphalt Shingle
Lot Frontage 210.0
Lot Depth 210.0
Total Parking Spaces 18
Building
Foundation Slab,Concrete Block
New Construction false
Others
Senior Community No
Security Features Unknown