478 2 AVE W

North Bay, ON, P1B 3L5
MLS® #: 240524
SOHAIL ROUHANI, RE/MAX Legend Real Estate Inc

$2,200,000

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Business Type: Multi-Family

Date Listed: Thu, Jan 16, 2020

Property Tax: $36,783 (2019)

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478 2 AVE W

North Bay, ON, P1B 3L5
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$2,200,000

17000 sqft|Multi-Family
MLS® #: 240524
SOHAIL ROUHANI, RE/MAX Legend Real Estate Inc

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Property Description

North Bay - Multi Family 18 units. (9) 1 bedroom + (9) 2 bedroom units. Built in 2009 using a concrete floor & structure system with high efficient in floor heating. All units have ceramic tile for durable low maintenance longevity. Parking lot is interlocking and can accommodate 27 cars. This property is enrolled in the affordable housing program. Landlord must maintain rents at 80% of market. Still under these circumstances the property generates a Net Income of $142,000 annual (2019) reflecting a 6.45 CAP rate. Due to the lowered rents this property has virtually no vacancy issues. 3 High efficient boilers provide heating, 1 boiler per block of 6 units. All units separately metered, tenants pay their own hydro. Coin laundry on site. Solar panels make up approximately $10,000 each year towards the NOI -- 20 years remaining on contract. This property will not last long -> Contact for a private viewing.

Details

Property Type: Commercial
Property Tax: $36,783 (2019)
Fees: N/A
Last Updated: Mon, January 20, 2020
Business Type: Residential
Property Subtype: Building and Land
Sale Rent: For Sale
Title: Other (see remarks)

Key Facts

MLS® #: 240524
Ownership-Type: N/A
Year Built: 2009
sqft: 17000 SQFT
Date Listed: Jan 16, 2020
Lot Size: 0.9000
Occupancy: N/A
Total Acres: 0.9
Type: Multi-Family/Investment
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Suggested Listings (1)

ROYAL LEPAGE ROYAL CITY REALTY BROKERAGE
MLS® #: 30769245

$1,900,000

3728 MCCONNELL RD, North Bay, ON, K0H 1V0

N/A sqft|Business
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Data was last updated Monday, January 20, 2020 at 8:23:30 PM
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RE/MAX LEGEND REAL ESTATE INC.

North Bay, ON

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(705) 493-8999

PH: (705) 493-8999
I'd prefer to be reached by text or phone call

I'm looking to:

Buy
Sell

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