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447 MAIN Street E, NORTH BAY
2024-07-22
Quick Summary
- Location
- 447 MAIN Street E, NORTH BAY, Ontario P1B1B6
- Price
- $1,350,000
- Status:
- For Sale
- Property Type:
- Office
- Area:
- 9660ft2
MLS®#40621758
Property Description
Located on the east side of Downtown North Bay, this property features ten updated residential units (nine 1-bed and one 2-bed) with a secure entrance and shared laundry. The commercial unit is rented to a local antique shop on a current 3-year term, providing a stable income stream. The property generates a gross annual income of $174,060 with a 7.28% cap rate. The exterior along with the majority of the apartments has been freshly painted and modernized, and there is still room to improve a few units, offering the potential for increased returns. Comprehensive documentation includes a 2017 fire inspection, engineering reports from 2008, a current survey, updated rent roll, lease and tenant agreements, and income and expenses updated for 2024. The permitted uses of zoning are detailed, and a Phase 1 Environmental report from 2004 confirms that no further remediation is necessary. The building features hot water heating, concrete block walls with steel beams, a membrane roof inspected by Designed Roofing in 2017, and an HVAC unit. Additionally, approximately 75% of the lighting has been upgraded to LED. This property is a practical choice for investors seeking a stable, income-generating asset in a convenient location. (id:32467)
Property Features
Ammenities Near By
- Ammenities Near By: Public Transit
Building
- Basement Type: Full
- Exterior Finish: Aluminum siding, Vinyl siding
- Fireplace: No
- Interior Size: 9660 sqft
- Stories: 3
- Utility Water: Municipal water
Features
- Feature: Visual exposure, Paved driveway
Land
- Land Size: 0.14 ac|under 1/2 acre
- Sewer: Municipal sewage system
Ownership
- Type: Freehold
Zoning
- Description: C2
Information entered by REALTY EXECUTIVES Local Group Inc. Brokerage
Listing information last updated on: 2024-08-21 15:36:34
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How much could you save in commission selling with One Percent Realty?
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$500,000
Your One Percent Realty Commission savings†
$500,000
†
Savings calculated using One Percent Realty's posted commission rates compared to another agent charging
5% + HST . Not all agents charge the same.
One Percent Realty's top FAQs
We charge a total of $7,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,950. For residential properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer's agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact a One Percent agent directly or fill out the market evaluation form on the bottom right of our website pages and a One Percent agent will get back to you to discuss the particulars.
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