4319 Highway 11 N/A N Active Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1B 8G3
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
Subdivision College Heights
MLS Listing ID X11929536
Style Other
Bedrooms 4
Annual Tax Amount $11,642
Tax Year 2025
Property Sub-Type Multiplex
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.
Location
Province ON
County Nipissing
Community College Heights
Area Nipissing
Zoning RC Sp.22 with SPC
Rooms
Family Room Yes
Kitchen 13
Interior
Cooling None
Inclusions 13 Fridges, 13 Stoves, Coin Operated Washer & Dryer
Exterior
Parking Features Front Yard Parking
Pool None
Roof Type Asphalt Shingle
Building
Foundation Concrete,Slab