251 Victoria ST W new Save Request In-Person Tour Request Virtual Tour
North Bay,ON P1B 6B6
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3000-3500
Subdivision Central
MLS Listing ID X12139767
Style 2-Storey
Bedrooms 7
Building Age 100+
Annual Tax Amount $3,804
Tax Year 2024
Property Sub-Type Fourplex
Property Description
This outstanding fourplex has been meticulously maintained and improved over the owners' almost 20 years living on the property. Apt. 1 is 2 bedrooms with a 3-piece bathroom earning $1750. Apt. 2 is 1 bedroom with 3-piece bathroom earning $1500. Apt. 3 is 2 bedrooms with a 4-piece bathroom earning $1950. Apt. 4 has been the owners' suite, with 2 bedrooms, a 3-piece bathroom, laundry, access to the basement and control of the furnace and thermostat. It is currently rented for $1200 on a shared space basis with tenant mowing lawn and clearing snow. Apt. 4 has exclusive use of large fully-fenced private back yard with gate, shed, garden beds, clothesline with platform and gate access to back lane. Each apartment has its own entrance and outside sitting area. All windows have been replaced within the past 20 years. Exterior styrofoam insulation was added before installing new vinyl and metal siding. Other upgrades include new outside decking and flower boxes (2022), new furnace (Dec. 2020), new roof boards and shingles with 10' ice and water shield (Oct. 2021). The building is clean, quiet and non-smoking. Two tenants have allergies to pets, so no pets have been allowed. There is parking for 7 (including 2 spots for owner). The street is quiet. Walking distance to Tim's and Twigg's, the beach, public library, downtown shops and eateries, schools and daycares, Food Basics and Shopper's Drug Mart, YMCA, Boart Longyear Memorial Gardens, Thomson Park and Northgate Shopping Centre. Hydro is not separately metered but upper two apartments have panel boxes in place. Stacked washer/dryer could possibly be made separate from Apt. 4 with coin-op income. Gross income in 2024 was $76,800; expenses were $17,904.26 including a 5% vacancy provision, leading to annual net operating income of $58,895.74 and a cap rate of 8.4. If Apt. 4 were rented for $2200 (i.e., an additional $12,000 a year), the cap rate would be 10.1. This income property is being offered for sale at $699,900.
Location
Province ON
County Nipissing
Community Central
Area Nipissing
Zoning R3
Rooms
Basement Partial Basement
Kitchen 4
Interior
Interior Features Carpet Free,Storage,Water Heater,Upgraded Insulation
Cooling None
Inclusions Four fridges, four stoves, one washer and dryer set, one dishwasher, one lawnmower, all ceiling fans.
Exterior
Exterior Feature Deck,Landscaped,Privacy
Parking Features None
Pool None
View Downtown
Roof Type Asphalt Shingle
Total Parking Spaces 7
Building
Foundation Block
Others
ParcelsYN No