ON > North Bay > College Heights
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
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Fawad Nissari

Fawad Nissari

eXp Realty

+1(416) 878-1085
$ 1,120,000
Est. payment | /mo

1 SqFt

Save
$ 1,120,000
Est. payment | /mo
Save

1 SqFt

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 1 sqft

Price per Sqft $1,120,000

Subdivision College Heights

MLS Listing ID X11929509

Annual Tax Amount $11,642

Tax Year 2025

Property Sub-Type Investment

Property Description

Looking for a cash-flowing property that meets the 1% rule? Consider how the cash flow could improve as interest rates decline. This turnkey 13-unit residential complex sits on a 1 acre lot and includes a newly renovated 3-bedroom stand-alone home, along with a 12-unit main building rezoned in 2022. The main building features 11 bachelor units and one, 1-bedroom unit. Gross rents total $137,452, with expenses for property management, vacancy, and maintenance estimated at $53079, resulting in a net income before mortgage of $78,875. Currently, 7 of the units are at or near market rent, offering the new owner potential for increased returns as the remaining 5 tenants transition. Supporting documents include new shingles with ice guard (2023), a site plan control showing all buildings and parking, water testing and well reports, zoning confirmations, a 2014 fire retrofit, and a detailed income and expenses report. The 3-bedroom house has received occupancy permits following fire remediation and renovations, all completed to current code, including electrical, gas furnace, framing, and drywall. The property also includes 5 older septic systems and a drilled well with engineering reports meeting MOE guidelines. All supporting documents on file and ready to send by email.

Location

Province ON

County Nipissing

Community College Heights

Area Nipissing

Zoning RC

Interior

Cooling No

Inclusions 13 Fridges, 13 Stoves, Coin Operated Washer & Dryer

Exterior

Community Features Major Highway, Skiing

Utilities Available Yes

Lot Frontage 210.0

Lot Depth 210.0

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
agent-avatar

When it comes to Real Estate, it's not just a transaction; it's a relationship built on trust and honesty. I understand that buying or selling a home is one of the most significant financial decisions you will make in your lifetime, and that's why I take my role very seriously. I make it my mission to ensure that my clients are well informed and comfortable with the process every step of the way.

+1(416) 878-1085

fawad.nissari@exprealty.com

420 Main St E Unit 556, Milton, ON, L9T 5G3, CAN

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4319 Highway 11 N/A N

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