Property Details

478 SECOND AVENUE W, North Bay, Ontario, P1B3L5

478 SECOND AVENUE W, North Bay, Ontario (ID 240524)
Representative
Darrel Falconi portrait
Darrel Falconi
Sales Representative
REALTY EXECUTIVES Local Group Inc. Brokerage
Cell: 705-499-8383

$2,200,000 - For sale

ID#:240524

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. (id:2471)

Location DescriptionFront Street to Second Avenue West.

Property Details
  • Property Address:478 SECOND AVENUE W, North Bay, Ontario, P1B3L5
  • Property Type:Multi-family
  • Title:Other, See Remarks
  • Lot Size:0.9
  • Acreage:0.9 ac|1/2 - 1 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
Structure Details for 478 SECOND AVENUE W, North Bay, Ontario, P1B3L5
  • Structure Style:Unknown
  • Building Age:2009
  • Heating Type:Natural gas, In Floor Heating, Radiant heat
  • Storeys:3
  • Flooring:Ceramic
  • Basement Type:None
  • Rental Equipment:None
  • Exterior Type:Vinyl siding
Amenities for 478 SECOND AVENUE W, North Bay, Ontario, P1B3L5 Southern exposure
  • Amenities Nearby:Recreation
Representative
Darrel Falconi portrait
Darrel Falconi
Sales Representative
REALTY EXECUTIVES Local Group Inc. Brokerage
Cell: 705-499-8383
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Listing Office: RE/MAX Legend Real Estate Inc., Brokerage (138)

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478 SECOND AVENUE W, North Bay, Ontario, P1B3L5

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