4319 Highway 11 N, North Bay
- Bedrooms: 16
- Bathrooms: 13
- Added: 4 months ago
- Updated: 4 months ago
- Last Checked: 4 months ago
- Listed by: REALTY EXECUTIVES Local Group Inc. Brokerage
Listing description
This Other at 4319 Highway 11 N North Bay, ON with the MLS Number x12368090 listed by MIKE BURMAN - REALTY EXECUTIVES Local Group Inc. Brokerage on the North Bay market 4 months ago at $1,099,000.
Looking for a strong cash-flowing investment that meets the 1% rule? This turnkey 13-unit residential complex delivers immediate income with excellent upside potential as interest rates decline. Sitting on a 1-acre lot, the property includes a newly renovated 3-bedroom detached home and a 12-unit main building that was rezoned in 2022. The main building offers 11 bachelor units and one 1-bedroom unit. Gross rental income is $137,452, with projected expenses (including management, vacancy, and maintenance) estimated at $53,079, resulting in a solid net income before financing of $78,875. With 7 units already at or near market rent, there is substantial opportunity to grow returns as the remaining tenancies turn over. The property has been well-documented and carefully maintained, with updates and reports that include: new shingles with ice guard (2023), site plan control with building and parking details, water testing and well reports, zoning confirmations, a 2014 fire retrofit, and detailed income/expense statements. The fully renovated 3-bedroom home was restored by professional fire remediation. Package includes occupancy permits and major updates including electrical, gas furnace, framing, and drywall, all completed to current code. Additional highlights include 5 older septic systems in good working order and a drilled well, supported by engineering reports confirming compliance with MOE guidelines. (id:1945)
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Price History
August 28, 2025
by REALTY EXECUTIVES Local Group Inc. Brokerage
$1,099,000
