525 High Street North Bay, ON P1B 6R5
Inscription par:  CREA / Realty Executives Local Group Inc. Brokerage

  525 High Street North Bay, ON P1B 6R5

En vigueur (105 Jours)
900,000 $

Description

This centrally located, cash flowing 7-unit multi-family residential building generates an impressive annual gross income of $107,460. The property consists of five spacious 2-bedroom units, one bachelor unit, and a newly renovated 3-bedroom unit offering views of Lake Nipissing and the downtown area. Blending modern touches with original charm, the building features tall ceilings, crown molding and elegant fireplace accent walls. Three of the 2-bedroom units are currently renting for under market rent, offering excellent potential for increased revenue. Each unit contains it's own rental hot water tank-tenants are responsible for their own hydro and rental costs, providing a consistent income stream for investors. The property also includes 10 parking spaces, hot water heating throughout, and an annually serviced boiler for maximum efficiency and ease. Recent upgrades include a new fire escape for the 3-bedroom unit (thereby meeting occupancy requirements), Fire safety compliance order completed 2024 with several upgrade throughout the building to meet safety standards, a sewer line replacement in 2020, fire-rated shutters, chimney repairs, new fencing, and improvements to flooring, paint, lighting in several units, and updated coin operated laundry space for all tenants. Situated on a spacious 183'x153' lot, the property offers ample living and parking space for tenants. The projected annual net income is $63,221, accounting for 15% management, vacancy, & maintenance costs, and providing a solid 7% CAP rate. (id:41440)

MLS®:
40652296
Surface Terrain
0.5 acres
Catégorie
Multifamily
Ville
Nipissing District

Listed By

Josee Laperle, Realty Executives Local Group Inc. Brokerage
Source
CREA
Dernière vérification Jan 9 2025 à 2:32 PM GMT+0000
Détails sur les salles de bains
Quartier
  • Central
Informations sur le lot
  • Laundry- Coin Operated
Caractéristiques de la propriété
  • Foundation: Block
Chauffage et refroidissement
  • Other
  • None
Informations sur les sous-sols
  • Partial
  • Unfinished
Caractéristiques extérieures
  • Vinyl Siding
  • Brick
Informations sur les services publics
  • Sewer: Municipal Sewage System
Stationnement
  • Total: 10
Étages
  • 3
Alimenté par Walk Score®
Disclaimer: REALTOR.CA The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Listing Data Last Updated: 1/9/25 06:32