2469 TROUT LAKE Road, North Bay, Ontario, P1B7S8 (ID 40009868)

2469 TROUT LAKE Road, North Bay, Ontario, P1B7S8

MLS®:40009868 Status:For sale Type:Multi-family
$1,600,000
2469 TROUT LAKE Road, North Bay, Ontario, P1B7S8 (ID 40009868)
$1,600,000
  • Status: For sale
  • MLS®: 40009868
  • City: North Bay
  • Province: Ontario
Property Details
  • Property Type:Multi-family
  • Lot Size:0.47
  • Acreage:0.47 ac|under 1/2 acre
  • Sewage Type:Municipal sewage system
  • Water Type:Municipal water
  • Access:Road access
Structure Details
  • Building Age:2010
  • Square Ft:11000
  • Heating Type:Radiant heat, Hot water radiator heat
  • Exterior Type:Concrete, Vinyl siding, Wood
Description2469 Trout Lake Road - 12 plex built in 2010. Insulated Concrete Forms foundation. Concrete structure with roof trusses and in-floor radiant hot water heating. Separately metered units. Prime location with close proximity to all of the city's amenities. Lots of parking on site for tenants and guests. This 12 plex was built through an affordable housing partnership between the Ministry of Municipal Affairs & Housing / District of Nipissing Social Services Administrative Board / City of North Bay. AS such any new prospective buyer must be approved by the above entities. Previous / Current experience as a landlord is paramount in the approval process. Landlord must keep rents at 80% of market as determined by CHMC. 2019 Gross Income $132,400 - Expenses $36,000 - Net Income $96,000. Current Rent Roll shows an increase of income allowing for the NOI to increase to approximately $102,000. All units are in first class shape, three piece tubs, ceramic floors throughout, in new shape kitchens. (id:2471)
Amenities Park setting, Park/reserve, Paved driveway, Laundry- Coin operated
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Representative
Barb Larose portrait
Barb Larose
Sales Representative
RE/MAX Legend Real Estate Inc., Brokerage - North Bay
Cell: 705-477-4117
Tollfree: 888-477-4555

Listing Office: RE/MAX Legend Real Estate Inc., Brokerage (138)

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