$1,140,000
4319 HWY 11 N/A N North Bay, ON P1B 8G3
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16
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$1,140,000
Est. payment /mo
9 BD
13 BA
0.5 Acres Lot
Active
4319 HWY 11 N/A N North Bay, ON P1B 8G3
UPDATED:
04/06/2024 08:33 AM
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
MLS Listing ID X7406030
Style Other
Bedrooms 9
Annual Tax Amount $9,545
Tax Year 2023
Lot Size 0.500 Acres
Property Description
TURNKEY CASH FLOWING 13 UNIT RESIDENTIAL COMPLEX SITTING ON 1 ACRE CONSISTING OF NEWLY RENOVATED 3 BEDROOM STAND - ALONE HOUSE, AND A 12 UNIT CONVERTED MOTEL REZONED IN 2022 WITH 11 BACHELOR UNITS AND 1 X 1 BEDROOM UNIT. GROSS RENTS ARE $133,962 WITH EXPENSE CALCULATION INCLUDING PROPERTY MANAGEMENT, VACANCY & MAINTENANCE EQUALLING $48,402 GIVING A NET INCOME BEFORE MORTGAGE OF $82,218 THIS COMPLEX HAS ONLY 7 UNITS CLOSE TO 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 & WELL REPORTS, ZONING CONFIRMATIONS, FIRE RETROFIT 2014 AND OF COURSE A DETAILED INCOME & EXPENSES REPORT. 3 BEDROOM HOUSE JUST RECEIVED OCCUPANCY PERMITS FROM THE CITY, PREVIOUS FIRE REMEDIATION AND RECENTLY RENOVATED. 20 ROOMS, 13 KITCHENS, 13 X 3 PC BATHROOMS.
Location
Province ON
County Nipissing
Zoning RC SP.22 WITH SPC
Rooms
Family Room No
Basement None
Kitchen 9
Interior
Cooling None
Inclusions 13 FRIDGES, 13 STOVES.
Exterior
Garage Front Yard Parking
Garage Spaces 18.0
Pool None
Parking Type None
Total Parking Spaces 18
Listed by REALTY EXECUTIVES LOCAL GROUP, BROKERAGE
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