Property Details

272 FIRST Avenue W, North Bay, Ontario, P1B3C1

272 FIRST Avenue W, North Bay, Ontario, P1B3C1 (ID 40243138)
Representative
Sutton - Choice Real Estate Inc., Brokerage
Office
Tel: (705) 223-9595
Website

$950,000 - For sale

ID#:40243138

Conversion of this existing office building into a legal 4 plex and will be turn key for the investor to pick their own tenants at closing. Or purchase pre construction for $425,000 and permits will be transferred to new owner at closing. New owner must be an hst registrant. Permits approved with the city of North Bay for 4 residential units, 1x3 bedroom unit with 4 levels, 2x1 bedroom units and a 2 bedroom unit with 22 ft vaulted ceilings in the bedrooms. All rents plus hydro. Seller will require long closing into end of August. Building will be complete with occupancy permit prior to closing. Features include 5 hydro meters, hot water heating with 4 zones, coin op washer and dryer room, all new insulation in attic at R-60 already installed, rear addition completed in 2019, 2 parking spaces with additional parking to rent with current owner on same block of first ave if needed, 1 ductless ac in unit 2. These apartments will be completely new with flooring, kitchens, bathrooms, lighting, trim, fire separations etc. No Rent Control is an additional bonus to the new purchaser. Estimated cap rate 6.1% with $81,000 Gross rents, $23,080 of expenses including heat, house hydro panel, water, taxes, insurance, vacancy rate, maintenance and property management expenses. (id:2471)

Location DescriptionCassells to 272 FIRST WEST

Property Details
  • Property Address:272 FIRST Avenue W, North Bay, Ontario, P1B3C1
  • Property Type:Multi-family
  • Title:Freehold
  • Lot Size:0.11
  • Acreage:0.11 ac|under 1/2 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
Structure Details for 272 FIRST Avenue W, North Bay, Ontario, P1B3C1
  • Structure Style:Fourplex
  • Floor Space:3340
  • Heating Type:Hot water radiator heat
  • Storeys:1
  • Basement Type:Partial (Partially finished)
  • Cooling Type:None
  • Appliances Included:Window Coverings
  • Rental Equipment:None
  • Exterior Type:Vinyl siding
Amenities for 272 FIRST Avenue W, North Bay, Ontario, P1B3C1 Visual exposure, Laundry- Coin operated, School Bus
  • Amenities Nearby:Public Transit, Schools, Shopping
Representative
Sutton - Choice Real Estate Inc., Brokerage
Office
Tel: (705) 223-9595
Website
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272 FIRST Avenue W, North Bay, Ontario, P1B3C1

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