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Salim Walji

salim@salimwalji.ca +1(647) 242-3480

$ 699,900

Est. payment -/mo

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251 Victoria ST W North Bay, ON P1B 6B6

7 Beds

4 Baths

UPDATED:

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

Lited by RIGHT AT HOME REALTY

Salim Walji

Agent | License ID: 9627394

+1(647) 242-3480

Salim Walji

251 Victoria ST W North Bay, ON P1B 6B6

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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251 Victoria ST W