135,270 ft²Listed 103 days ago

Overview

This multi-family property in Thunder Bay is for sale offering roughly 135,270 sq ft of space. It has been on the market 103 days, fresher than the Thunder Bay average of 109 days.

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Description

This property sits on 3.1 acres and includes a large six-story building with approximately 135,000 square feet of space. There are 130 on-site parking spaces. The residential section has 109 fully occupied apartments, including the following: 9 studio units, 89 one-bedroom units, 11 two-bedroom units. The property also includes 10 commercial units with a total rentable area of 23,391 square feet. There is a large undeveloped area with approved plans for an additional 50 residential units and basement space, offering excellent future development potential. The building is home to mostly senior and mature tenants. It is fully rented, has a waiting list for new tenants, and receives some financial assistance. (id:66096)

Property Details

MLS®: X13604438
Property Type: Multi-family
Zoning: DN Central Business
Interior Size: 135,270 ft²
Frontage: 336 ft
Heating: Baseboard heaters
Cooling: None
Property Tax: $142,354/yr
Listed: 103 days ago

Services

Water: Municipal water

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

103d

Thunder Bay listings, avg age

109d

Price / ft²

List price

Homes here sell faster than most markets

Sold homes in this market spent an average of 24 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 107.4 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.

Haho

This multi-family in Thunder Bay has been listed for 103 days, which is 6 days fresher than the city average of 109. Act while there is still low competition.

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Listed by HOME CHOICE REALTY INC. · OMER AZIZ

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (P7E)

Median household income: $68,500
Population: 20,897
Median age: 44.4
Owner / renter: 63% / 37%
Avg. household size: 2.1

Source: Statistics Canada, 2021 Census (FSA P7E)

$1· $0/ft²

For sale

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Full Cost Breakdown

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Down Payment5% · $0.05

Min 5%50%

Mortgage payment$0/mo

↳ CMHC premium ($0 capitalized)

Property tax (est.)$11,863/mo

Total monthly$11,863

Cash Needed to Close

Down payment (5%)$0

Land transfer tax$0

Est. closing costs$2,500

Total cash needed$2,500

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Rates via our partner mortgage brokers at iShopRates · Estimates only, not financial advice

325 Archibald Street South, Thunder Bay - Multi-family for Sale