129 PRINCESS Street E, North Bay
Prime Location Meets Endless Potential! Welcome to 129 Princess Street—a…
$399,000
Realty Executives | North Bay & Area
Realty Executives | North Bay & Area
Realty Executives | North Bay & Area
447 MAIN Street E, North Bay, Ontario, P1B1B6
$1,350,000
Property ID :
27201441
Located on the east side of Downtown North Bay, this property features ten updated residential units (nine 1-bed and one 2-bed) with a secure entrance and shared laundry. The commercial unit is rented to a local antique shop on a current 3-year term, providing a stable income stream. The property generates a gross annual income of $174,060 with a 7.28% cap rate. The exterior along with the majority of the apartments has been freshly painted and modernized, and there is still room to improve a few units, offering the potential for increased returns. Comprehensive documentation includes a 2017 fire inspection, engineering reports from 2008, a current survey, updated rent roll, lease and tenant agreements, and income and expenses updated for 2024. The permitted uses of zoning are detailed, and a Phase 1 Environmental report from 2004 confirms that no further remediation is necessary. The building features hot water heating, concrete block walls with steel beams, a membrane roof inspected by Designed Roofing in 2017, and an HVAC unit. Additionally, approximately 75% of the lighting has been upgraded to LED. This property is a practical choice for investors seeking a stable, income-generating asset in a convenient location. (id:49768)
Prime Location Meets Endless Potential! Welcome to 129 Princess Street—a…
$399,000
HOME WAS RENOVATED FROM TOP TO BOTTOM IN 2021. Forced…
$339,900
Owning a home is a keystone of wealth… both financial affluence and emotional security.
Suze Orman