ON > North Bay
North Bay, ON P1B 8G3,4319 Highway 11 N
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North Bay, ON P1B 8G3,4319 Highway 11 N
North Bay, ON P1B 8G3,4319 Highway 11 N
North Bay, ON P1B 8G3,4319 Highway 11 N
North Bay, ON P1B 8G3,4319 Highway 11 N
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Ivan Gascho

Ivan Gascho

+1(519) 573-7440
$ 1,140,000
Est. payment /mo
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Active Under Contract

4319 Highway 11 N North Bay, ON P1B 8G3

5,093 SqFt

UPDATED:

10/29/2024 08:27 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,093 sqft

Price per Sqft $223

MLS Listing ID 40600933

Abv Grd Liv Area 5,093

Originating Board North Bay

Annual Tax Amount $11,642

Lot Size 1.028 Acres

Acres 1.028

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

Area North Bay

Zoning RC Sp.22 with SPC

Direction Hwy 11 North of North Bay 10 minutes to property

Rooms

Other Rooms Storage

Basement None

Kitchen 0

Interior

Interior Features Separate Heating Controls

Heating Baseboard, Electric, Forced Air, Natural Gas

Cooling None

Fireplace No

Appliance Hot Water Tank Owned

Laundry Coin Operated

Exterior

Exterior Feature Lighting, Year Round Living

Garage Gravel

Waterfront No

Roof Type Asphalt Shing

Lot Frontage 210.0

Lot Depth 210.0

Garage No

Building

Lot Description Rectangular, Ample Parking, Highway Access, School Bus Route, Visual Exposure

Faces Hwy 11 North of North Bay 10 minutes to property

Story 1

Foundation Concrete Block, Slab

Sewer Septic Tank

Water Well

Level or Stories 1

Structure Type Vinyl Siding

New Construction No

Others

Senior Community false

Tax ID 491270016

Ownership Freehold/None

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage

Ivan Gascho

Broker | License ID: 5015171

+1(519) 573-7440

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4319 Highway 11 N