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$415,000
Thunder Bay
711 Ridgeway Street East, Thunder Bay (Hyde Park), Ontario, P7E5H3
This multi-family property in Thunder Bay is for sale.
New Listing! Attention investors! This fully tenanted income property is an exceptional opportunity to add a cash-flowing asset to your portfolio. Featuring three self-contained rental units, this property offers multiple income streams with the convenience of professional property management already in place. The main floor features a spacious 2-bedroom, 1-bathroom unit, while the second-floor unit offers 2 bedrooms, 1 bathroom, a cozy gas fireplace, and a massive private deck that adds tremendous tenant appeal. The third floor is a self-contained bachelor suite, completing this versatile triplex. Adding even more value, the property includes a large garage that is separately rented, creating an additional source of income. With all units and the garage currently rented, this is a true turnkey investment. Whether you're looking to expand your portfolio or purchase your first investment property, this is an opportunity you won't want to miss. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 78 days on market, against an average age of 42 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 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 107.5 percent of their asking price over the past year, above the 96.4 percent median across the markets we publish.
This multi-family in Thunder Bay (Hyde Park) 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 $415,000, about 6.1× the local median household income of $68,500.
Carrying it typically needs a household income of about $81,064 (20% down, 25-yr amortization, stress-tested) — roughly 18% above the area median.
Source: Statistics Canada, 2021 Census (FSA P7E)
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Loading rates, 30-yr amortization
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