Homes for sale - 4319 HIGHWAY 11 N/A N, North Bay, ON P1B 8G3

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Mahesh Khatri

mkhatri.teammahesh@gmail.com +1(416) 464-6568

$ 1,140,000

Est. payment | -/mo

5,093 SqFt

Save

$ 1,140,000

Est. payment | -/mo

Save

5,093 SqFt

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 5,093 sqft

Price per Sqft $223

MLS Listing ID X10708044

Annual Tax Amount $11,642

Tax Year 2024

Lot Size 0.500 Acres

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

Community College Heights

Area Nipissing

Zoning RC Sp.22 with SPC

Region College Heights

City Region College Heights

Rooms

Basement None

Kitchen 0

Interior

Interior Features Separate Heating Controls

Cooling None

Inclusions 13 Fridges, 13 Stoves, coin op washer dryer, Hot Water Tank Owned

Laundry Coin Operated

Exterior

Exterior Feature Lighting, Year Round Living

Parking Features Other

Garage Spaces 18.0

Pool None

Utilities Available Unknown

Roof Type Asphalt Shingle

Lot Frontage 210.0

Lot Depth 210.0

Total Parking Spaces 18

Building

Foundation Slab, Concrete Block

New Construction false

Others

Senior Community No

Security Features Unknown

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(416) 464-6568

mkhatri.teammahesh@gmail.com

7885 Tranmere Dr Unit 1, Mississauga, Ontario, L5S1V8, CAN

4319 HIGHWAY 11 N/A N North Bay, ON P1B 8G3