$ 900.000
ON North Bay
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525 High Street, North Bay

  • Bedrooms: 13
  • Living area: 4850 square feet
  • Type: Townhouse
  • Added: 56 days ago
  • Updated: 42 days ago
  • Last Checked: 8 hours ago
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:1945)
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Property DetailsKey information about 525 High Street

  • Cooling: None
  • Heating: Other
  • Stories: 3
  • Exterior Features: Brick, Vinyl siding
  • Foundation Details: Block

Interior FeaturesDiscover the interior design and amenities

  • Basement: Unfinished, Partial
  • Living Area: 4850
  • Bedrooms Total: 13
  • Above Grade Finished Area: 4850
  • Above Grade Finished Area Units: square feet
  • Above Grade Finished Area Source: Other

Exterior & Lot FeaturesLearn about the exterior and lot specifics of 525 High Street

  • Lot Features: Laundry- Coin operated
  • Water Source: Municipal water
  • Lot Size Units: acres
  • Parking Total: 10
  • Lot Size Dimensions: 0.5

Location & CommunityUnderstand the neighborhood and community

  • Directions: corner of Algonquin Avenue and High Street
  • Common Interest: Freehold
  • Subdivision Name: Central
  • Community Features: School Bus

Utilities & SystemsReview utilities and system installations

  • Sewer: Municipal sewage system

Tax & Legal InformationGet tax and legal details applicable to 525 High Street

  • Tax Annual Amount: 7675.7
  • Zoning Description: RM1

Additional FeaturesExplore extra features and benefits

  • Number Of Units Total: 7
This listing content provided by REALTOR.ca has been licensed by REALTOR®
members of The Canadian Real Estate Association

Nearby Listings Stat

Active listings
34
Min Price
$69,900
Max Price
$3,250,000
Avg Price
$687,456
Days on Market
74 days
Sold listings
22
Min Sold Price
$150,000
Max Sold Price
$548,000
Avg Sold Price
$365,418
Days until Sold
46 days

Nearby Places

Name
Type
Address
Distance
Greco's Pizza
Store
344 Algonquin Ave
0.6 km
Burger World
Restaurant
1308 Algonquin Ave
0.8 km
Days Inn & Suites North Bay
Lodging
340 Main St W
0.8 km
Caseys Grill Bar
Restaurant
20 Maplewood Ave
0.9 km
Howard Johnson Inn North Bay
Lodging
255 McIntyre St W
0.9 km
Kenalex Development Ltd
General contractor
1017 Jet Ave
0.9 km
Chicago Café
Restaurant
167 Main St W
1.0 km
Urban Café The
Food
101 Worthington St E
1.1 km
CKTR-FM
The station operated a tourist information format ...
1.1 km
Comfort Inn Airport
Lodging
1200 O'Brien St
1.1 km
Chippewa Secondary School
In addition, students can enroll in a Specialist H...
1.2 km
Moose's Big Game Sports Bar
Bar
134 Main St E
1.2 km
Additional Information about 525 High Street

This Townhouse at 525 High Street North Bay, ON with MLS Number 40652296 listed by JOSEE LAPERLE - REALTY EXECUTIVES Local Group Inc. Brokerage on North Bay market 56 days ago at $900,000

We have found 2 Townhomes that closely match the specifications of the property located at 525 High Street with distances ranging from 2 to 2 kilometers away. The prices for these similar properties vary between 750,000 and 900,000.

The current price of the property is $900,000, and the mortgage rate being used for the calculation is 4.44%, which is a rate offered by Ratehub.ca. Assuming a mortgage with a 19% down payment, the total amount borrowed would be $729,000. This would result in a monthly mortgage payment of $4,209 over a 25-year amortization period.

More Details?
JOSEE LAPERLE
  • JOSEE LAPERLE
  • REALTY EXECUTIVES Local Group Inc. Brokerage
  • 705-477-1045
  • WebSite

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Barrys Bay 53 $515.606
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