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$1,695,000
North Bay
245 Mattawa Street, North Bay (West End), Ontario, P1B4M2
This multi-family property in North Bay is for sale offering roughly 8,950 sq ft of space.
Investment opportunity with main floor 3 commercial/industrial units plus 5 residential apartments fully updated and turn key. Zoned M-2, this building has seen numerous upgrades to each residential unit plus a fire retrofit inspection 2024, updated hot water boiler in 2017. Residential apartments are 2x3 bedrooms and 3x2 bedrooms, all of which have seen large renovations and updates including kitchens, bathrooms, flooring, lighting, trim, 4 built in all in one laundry machines and most windows. The 3 commercial industrial units are 2075 Sqft, 1700 sqft and 700 sqft with high ceilings and 3 grade loading doors. Whole building is gas hot water and tenants rents are all inclusive except for the hydro cost. Actual Income and expense sheet available including management fees on the residential units, vacancy and maintenance allowances. Other supporting documentation upon request, legal non conforming building, Gross Income $177,309 with Net income $119,124 and a Cap Rate of 7.03 including vacancy, utilities, taxes, maintenance and a 5% property management line. A detailed income and expense statement is available, additional supporting documentation provided upon request. All photos are before tenants moved in. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 135 days on market, against an average age of 41 days across the listings currently for sale in this city
Homes here sell faster than most markets
Sold homes in this market spent an average of 27 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell close to asking price
Homes in this market sold for an average of 98.6 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
This multi-family in North Bay (West End) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $1,695,000, about 25.7× the local median household income of $66,000.
Carrying it typically needs a household income of about $331,093 (20% down, 25-yr amortization, stress-tested) — roughly 402% above the area median.
Source: Statistics Canada, 2021 Census (FSA P1B)
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Loading rates, 30-yr amortization
Cash Needed to Close
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