This centrally located, cash flowing 7-unit multi-family residential building generates an impressive annual gross income of $107, 460. The property consists of five spacious 2-bedroom units, one bachelor unit, and a newly renovated 3-bedroom unit offering views of Lake Nipissing and the downtown area. Blending modern touches with original charm, the building features tall ceilings, crown molding and elegant fireplace accent walls. Three of the 2-bedroom units are currently renting for under market rent, offering excellent potential for increased revenue. Each unit contains it's own rental hot water tank-tenants are responsible for their own hydro and rental costs, providing a consistent income stream for investors. The property also includes 10 parking spaces, hot water heating throughout, and an annually serviced boiler for maximum efficiency and ease. Recent upgrades include a new fire escape for the 3-bedroom unit (thereby meeting occupancy requirements), Fire safety compliance order completed 2024 with several upgrade throughout the building to meet safety standards, a sewer line replacement in 2020, fire-rated shutters, chimney repairs, new fencing, and improvements to flooring, paint, lighting in several units, and updated coin operated laundry space for all tenants. Situated on a spacious 183'x153' lot, the property offers ample living and parking space for tenants. The projected annual net income is $63, 221, accounting for 15% management, vacancy, & maintenance costs, and providing a solid 7% CAP rate. (id:55598)
- MLS® 40652296
- Date Listed09/26/2024
- Days on Realty 9 Days
- Bedrooms 13
- Bathrooms
- Lot Size -
- Sewer Public Sewer
- Property Type Other
- Water Public
- Square Feet 4,850 sq. ft
- Price Per Sq. Ft $185.57
Interior Features
- Cooling None
- Heating Other
Exterior / Lot Features
- Roof -
- Lot Size Acres -
- Lot Size SQFT -
- Lot Features -
Nearby Schools
Source: School Digger
Sales & Tax History
Source: Public Records
74/100
Very Walkable
Walk Score ®
0/100
Minimal Transit
Transit Score ®
50/100
Bikable
Bike Score ®
Overview
Most errands can be accomplished on foot. It is possible to get on a bus. Some bike infrastructure.Walkability averages in the surrounding area
The average walkability score in the surrounding area is Walk Score: 40/100, Transit Score: 0/100, Bike Score: 46/100.
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Frequently Asked Questions for 525 HIGH Street
Source: Realty.com
525 HIGH Street, North Bay, ON P1B6R5 is a Other, Residential Income property listed for $900,000 The property is 4850 sq. ft with 13 bedrooms and 0 bathrooms
Realty.com has 50 photos of 525 HIGH Street.
The full address for this home is 525 HIGH Street, North Bay, ON P1B6R5.
525 HIGH Street has been listed on Realty.com since Thu September 26, 2024
Most errands can be accomplished on foot. It is possible to get on a bus. Some bike infrastructure.
The average walkability score in the surrounding area is Walk Score: 40/100, Transit Score: 0/100, Bike Score: 46/100.
Listing provided courtesy of:
REALTY EXECUTIVES Local Group Inc. Brokerage
(tel: (705) 478-8588)
Listing agent:
JOSEE LAPERLE
(tel: (705) 478-8588)
This content last refreshed on 2024-10-05 08:27:03. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Export listing data of 525 HIGH Street, North Bay, ON P1B6R5 : MLS® 40652296