Property Description

Looking for a cash-flowing property that meets the 1% rule? Consider how the cash flow could improve as interest rates decline. This turnkey 13-unit residential complex sits on a 1 acre lot and includes a newly renovated 3-bedroom stand-alone home, along with a 12-unit main building rezoned in 2022. The main building features 11 bachelor units and one, 1-bedroom unit. Gross rents total $137,452, with expenses for property management, vacancy, and maintenance estimated at $53079, resulting in a net income before mortgage of $78,875. Currently, 7 of the units are at or near market rent, offering the new owner potential for increased returns as the remaining 5 tenants transition. Supporting documents include new shingles with ice guard (2023), a site plan control showing all buildings and parking, water testing and well reports, zoning confirmations, a 2014 fire retrofit, and a detailed income and expenses report. The 3-bedroom house has received occupancy permits following fire remediation and renovations, all completed to current code, including electrical, gas furnace, framing, and drywall. The property also includes 5 older septic systems and a drilled well with engineering reports meeting MOE guidelines.

Features
: Forced Air
: None
: N
Address Map
CA
Ontario
North Bay
P1B 8G3
HIGHWAY 11
4319
0
W80° 31' 45''
N46° 20' 36.9''
More info
REALTY EXECUTIVES Local Group Inc. Brokerage
0
2025-01-08 09:32:57.0
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Investment For Sale

4319 HIGHWAY 11, North Bay, Ontario P1B 8G3

  • Area: 5,093 Sqft
  • Visits : 3 in 3 days
$1,140,000
Listing ID#X11912692
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Basic Details
Property Type : Investment
Listing Type : For Sale
Listing ID : X11912692
Price : $1,140,000
Area : 5,093 Sqft
Year Built : 0
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Firas Al-Rifay
Ontario Real Estate @JDF Realty.LTD Brokerage
Ontario Real Estate @JDF Realty.LTD Brokerage
999 Edgeley Blvd. Units 5-6 Vaughan, Ontario, Canada L4K 4R7
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