4319 HWY 11 N/A N Active Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1B 8G3
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 5,093 sqft
Price per Sqft $223
MLS Listing ID X7405856
Annual Tax Amount $9,545
Tax Year 2023
Property Description
TURNKEY CASHFLOWING 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 1 X 1 BEDROOM UNIT. GROSS RENTS ARE $133,962 WITH EXPENSE CALCULATION INCLUDING PROPERTY MANAGEMENT, VACANCY & MAINTENANCE EQUALING $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 SUPORTING DOCS ON INCLUDING NEW SHINGLES WITH ICE GUARD TO PEAK 2023, SITE PLAN CONTROL SHOWING ALL BUILDING PARKING ETC., WATER TESTING AND WELL REPORTS, ZONING CONFIRMATIONS, FIRE RETROFIT 2014 AND OF COURSE A DETAILED INCOME & EXPENSES REPORT. 3 BEDROOM HOUSE JUST RECEIVED OCCUPANCY PERMITS FROM CITY, PREVIOUS FIRE REMEDIATION AND RECENTLY RENOVATED.
Location
Province ON
County Nipissing
Zoning RC SP.22 WITH SPC
Interior
Cooling No
Inclusions 12 FRIDGES, 13 STOVES
Exterior
Utilities Available Yes
Others
Security Features No