CAONNorth BayCollege Heights4319 Highway 11 N
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4319 Highway 11 N, North Bay, ON

Real Estate

For Sale

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161318

MLS® X12368090

  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential
Size -
Garage No
Taxes $11,642
Days Active 107
Lot Size 
Approx. Age 
MLS® Number X12368090

Property Address: 4319 Highway 11 N, North Bay, ON, P1B8G3

Average square foot calculated using Size range provided by listing agent.

Description

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 $138, 131 with projected expenses (including management, vacancy, and maintenance) estimated at $63, 528.94, resulting in a solid net income before financing of $74, 602.06 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. House was vacated as of Oct 28th and could be vacant for closing although landlord will be actively advertising it for rent.Show Description
MLS® NumberX12368090
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
GarageNo
Approx. Age
BasementNone
DrivewayGarage Type:None
Garage Spaces
Heat
A/C
Heating Fuel

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Starting Address
Destination Address
4319 Highway 11 N, North Bay, ON

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