New Listing
14 Milford Crescent,North Bay (Ferris), ON P1A1M3
North Bay (Ferris), ON P1A1M3
Description
Turnkey investment opportunity with strong cash flow located on a quiet street just off Lakeshore dr. Total of 12 Units (11-2 Bedrooms/1-1 Bedroom) This turnkey 12-unit residential purpose built complex delivers immediate cash flow and has seen major renovations to every unit including all kitchens, bathrooms, flooring, trim, lighting, paint and more. Cap rate at 6.27%, Gross rental income is $305,709.12 with expenses (including management, vacancy, and maintenance) estimated at $86,470, resulting in a solid net income before financing of $219,239. Other notable features are: All rents plus hydro, hot water boiler system, 13 parking spaces and security doors. Within walking distance bus route on Lakeshore dr, restaurants, shopping mall, Shoppers Drug mart, Cineplex and Lake Nipissing access close by. Immediate cash flow after mortgage payment plus significant principle recapture makes this a solid investment opportunity. Photos are previous to tenants moving in. (id:13843)
Details
| MLS # | X14101536 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 3 |
| Listing Provided By | REALTY EXECUTIVES Local Group Inc. Brokerage | MIKE BURMAN |
Features
| Bed(s) | 23 |
|---|---|
| Bath(s) | 12 Total |
| SQ Feet | 5,000 |
| Story(s) | 3 |
| Zoning | RM3 |
Interior
| Cooling | None |
|---|---|
| Heating | Natural gas |
| Appliances | Two stoves, Water Heater, Two Refrigerators |
| Fireplace Yes / No | No |
Exterior
| Security Features | Controlled entry |
|---|---|
| Foundation Details | Concrete |
| Fencing | Partially fenced |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 13 |
Utilities
| Utilities | Sewer, Electricity |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 28800 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | North Bay (Ferris) |
| Postal Code | P1A1M3 |
| Listing VS Median (in P1A1M3) | |
Price: $3,495,000 low | high Med: $3,495,000 sqft: 5,000 low | high Med: 5,000 $ / sqft: $699 low | high Med: $699 On site: 3 low | high Med: 3 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | North Bay (Ferris) |
| Postal Code | P1A1M3 |
| Listing VS Median (in P1A1M3) | |
Price: $3,495,000 low | high Med: $3,495,000 sqft: 5,000 low | high Med: 5,000 $ / sqft: $699 low | high Med: $699 On site: 3 low | high Med: 3 | |