$499,900

North Bay (Central) ON, P1B 1B8

MLS® # X12274089

Property Information:

Excellent Investment Opportunity in Downtown North Bay! This income property features three self-contained 1-bedroom units plus a spacious 3-bedroom rooming house, offering strong and consistent rental income. With a cap rate of over 9%, this property is a rare find for savvy investors. Recent renovations completed within the past 3-6 years include updates to the flooring, kitchens, bathrooms, and major mechanicals. Tenants enjoy the added convenience of on-site coin laundry. Located in the heart of downtown, it's just steps from shopping, restaurants, public transit, and the beautiful North Bay waterfront. Tenants enjoy convenience, and investors enjoy cash flow this is a win-win! Don't miss out on this high-performing asset in a prime location. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Basement Type: N/A
Exterior Finish: Brick
Floor Space: 3000 - 3500 sqft
Foundation Type: Stone
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: None
Appliances: Stove, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 5+1
Bathrooms: 4
Floor Space (approx): 3000 - 3500 Square Feet
Irregular: Yes
Lot Depth: 99.8 Feet
Lot Frontage: 29.8 Feet
Lot Size: 29.9 x 99.8 FT
Zoning: C2
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 2

Courtesy of: Coldwell Banker-Peter Minogue R.E., Brokerage

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⚠ Potential Investment Performance

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Market Price Trends

Location of 586 MAIN STREET E, North Bay (Central), Ontario, P1B 1B8

Lifestyle
Neighbourhood

Demographic Information of 586 MAIN STREET E, North Bay (Central), Ontario, P1B 1B8

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$69,774.07

Average Number of Children

1.60

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

19.08 %

High school certificate or equivalent

34.46 %

Apprenticeship trade certificate/diploma

5.3 %

College/non-university certificate

30.59 %

University Degree

10.56 %

Commuter

Travel To Work

By Car

78.92 %

By Public Transit

4.11 %

By Walking

13.29 %

By Bicycle

0.0 %

By Other Methods

3.68 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

49.34 %

Houses

50.66 %

Own Vs. Rent