ON > North Bay > College Heights
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
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North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
North Bay, ON P1B 8G3,4319 Highway 11 N/A N
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Giancarlo Morales

Giancarlo Morales

+1(416) 882-8048
$ 1,074,000
Est. payment /mo
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Price Dropped by $25K

4319 Highway 11 N/A N North Bay, ON P1B 8G3

16 Beds

13 Baths

0.5 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3500-5000

Subdivision College Heights

MLS Listing ID X12368090

Style 1 1/2 Storey

Bedrooms 16

Annual Tax Amount $11,642

Tax Year 2025

Lot Size 0.500 Acres

Property Sub-Type Multiplex

Lot Depth 210.0

Lot Front 210.0

Property Description

Looking for a strong cash-flowing investment that meets the 1% rule? This turnkey 13-unit residential complex delivers immediate income with excellent upside potential as interest rates decline. Sitting on a 1-acre lot, the property includes a newly renovated 3-bedroom detached home and a 12-unit main building that was rezoned in 2022. The main building offers 11 bachelor units and one 1-bedroom unit. Gross rental income is $137,452, with projected expenses (including management, vacancy, and maintenance) estimated at $53,079, resulting in a solid net income before financing of $78,875. With 7 units already at or near market rent, there is substantial opportunity to grow returns as the remaining tenancies turn over. The property has been well-documented and carefully maintained, with updates and reports that include: new shingles with ice guard (2023), site plan control with building and parking details, water testing and well reports, zoning confirmations, a 2014 fire retrofit, and detailed income/expense statements. The fully renovated 3-bedroom home was restored by professional fire remediation. Package includes occupancy permits and major updates including electrical, gas furnace, framing, and drywall, all completed to current code. Additional highlights include 5 older septic systems in good working order and a drilled well, supported by engineering reports confirming compliance with MOE guidelines.

Location

Province ON

County Nipissing

Community College Heights

Area Nipissing

Zoning RC Sp.22 with SPC

Rooms

Family Room No

Basement None

Kitchen 13

Interior

Interior Features Water Heater, Water Treatment

Cooling None

Inclusions 13 Fridges, 13 Stoves, Coin Operated Washer & Dryer

Exterior

Pool None

Roof Type Asphalt Shingle

Lot Frontage 210.0

Lot Depth 210.0

Total Parking Spaces 18

Building

Foundation Slab

Others

Senior Community No

Security Features Smoke Detector

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
Giancarlo Morales

Giancarlo Morales

Sales Representative | License ID: 9560751

+1(416) 882-8048

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4319 Highway 11 N/A N

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