North Bay, ON P1B8G3,4319 HIGHWAY 11 N
North Bay, ON P1B8G3,4319 HIGHWAY 11 N
North Bay, ON P1B8G3,4319 HIGHWAY 11 N
16
See all 16 photos
$1,140,000
Est. payment /mo
5,093 SqFt
Active

4319 HIGHWAY 11 N North Bay, ON P1B8G3

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Key Details

Property Type Multi-Family

Sub Type Freehold

Listing Status Active

Purchase Type For Sale

Square Footage 5,093 sqft

Price per Sqft $223

Subdivision College Heights

MLS® Listing ID 40600933

Originating Board North Bay and Area REALTORS® Association

Lot Size 1.028 Acres

Acres 44779.68

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. (id:24570)

Location

Province ON

Interior

Heating Baseboard heaters, , Forced air,

Cooling None

Exterior

Parking Features No

Community Features School Bus

View Y/N No

Total Parking Spaces 18

Private Pool No

Building

Story 1

Sewer Septic System

Others

Ownership Freehold


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4319 HIGHWAY 11 N