$3,999,000

821 Douglas Street

North Bay ON, P1B 5B3

Description

ATTENTION INVESTORS!!! This 50 unit, North Bay apartment building has had the same owner since the mid 70s. It has been meticulously cared for during that time. Some building features include new appliances, new boilers in 2018/2019, parking for 50 cars plus several guest parking spaces, coin operated laundry, building security/camera system etc. The owner has chosen to keep quite a few of the units vacant for personal reasons, and currently only rents to tenants 55 and older, no pets, no smoking etc. The remaining units are cleaned, painted, and ready to be filled, and the new owner could do so in short order. When full, the building is at an 8.5% CAP rate, based on the asking price. The potential in this building is huge! Showings start immediately! Dont miss this one! The numbers shown in the listing are based on full occupancy, minus a 3% vacancy allowance. NetIncome: 586168.00

Details

MLS#257978
Listing TypeFor Sale
Sub-TypeResale
StatusContingent
Year1970
Days On Site20

Features

Units50
Building(s)1

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Area Information

ProvinceON
CountyOut of Area
CityNorth Bay
Postal CodeP1B 5B3
Area999 - Out of Area
Listing VS Median (in P1B 5B3)
Price:
$3,999,000
low | high
Med:
$3,999,000
50% of Average
On Site:
20
low | high
Med:
20
100% of Average
Listing Updated: 05/30/2020
MLS Number: 257978
Listing Provided By:
RYAN WEAVER  of  CENTURY 21 FIRST CANADIAN CORP
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