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Maria Tompson
Sales Representative
Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

 

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$699,900
Available - For Sale
Listing ID: X12139767
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.
Price $699,900
Taxes: $3,804.93
Occupancy by: Tenant
Address: 251 Victoria Stre West , North Bay, P1B 6B6, Nipissing
Directions/Cross Streets: Victoria Street West and Cassels
Rooms: 15
Bedrooms: 7
Bedrooms +: 0
Washrooms: 4
Family Room: F
Basement: Partial Base
No. of Pieces Level
Washroom 1:  3 Ground
Washroom 2:  3 Ground
Washroom 3:  3 Second
Washroom 4:  4 Second
Washroom 5:  0
Property Type: Fourplex
Style: 2-Storey
Exterior: Vinyl Siding
Metal/Steel Sidi
Garage Type: None
(Parking/)Drive: Front Yard
Drive Parking Spaces: 6
Park #1
Parking Type: Front Yard
Park #2
Parking Type: Front Yard
Park #3
Parking Type: Private Do
Pool: None
Other Structures: Shed
Approximatly Age: 100+
Approximatly Square Footage: 3000-3500
Property Features: Beach
Lake/Pond
CAC Included: N
Water Included: N
Cabel TV Included: N
Common Elements Included: N
Heat Included: N
Parking Included: N
Condo Tax Included: N
Building Insurance Included: N
Fireplace/Stove: N
Heat Type: Forced Air
Central Air Conditioning: None
Central Vac: N
Laundry Level: Syste
Ensuite Laundry: F
Elevator Lift: False
Sewers: Sewer
Utilities-Cable: A
Utilities-Hydro: A
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RIGHT AT HOME REALTY

251 Victoria Stre West , North Bay, P1B 6B6, Nipissing

Personal Picture
Maria Tompson
Sales Representative
Dir:
416-548-7854
Bus:
416-548-7854
Fax:
416-981-7184

 
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At a Glance:
Type: Freehold - Fourplex
Area: Nipissing
Municipality: North Bay
Neighbourhood: Central
Style: 2-Storey
Lot Size: x 125.00(Feet)
Approximate Age: 100+
Tax: $3,804.93
Maintenance Fee: $0
Beds: 7
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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Maria Tompson Sales Representative Your Company Name, Brokerage Independently owned and operated. pic Cell: 416-548-7854 | Office: 416-548-7854 Personal Pic
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