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Home ON Greater North Bay North Bay
525 HIGH Street
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525 HIGH Street $900,000
7 Plex @ 515-525 High street. 5 2-bed units, 1 3 bed unit, 1 bachelor.
7 Plex @ 515-525 High street. 5 2-bed units, 1 3 bed unit, 1 bachelor.
Rear of building with new fire escape
Rear of building with new fire escape
new 2023 fire escape added to 5th unit 3rd floor.
new 2023 fire escape added to 5th unit 3rd floor.
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Unit 4 - 2 bed middle level
Stair case to units 4 & 5
Unit 5- 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5- 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Unit 5 - 3 bedroom Top Floor
Beautiful city views for these tenants
Beautiful city views for these tenants
Unit 7 - 2 bedroom
Unit 7 - 2 bedroom
Unit 7 - 2 bedroom
Unit 7 - 2 bedroom
Unit 7 - 2 bedroom
each unit pays their own hydro and water tank rentals
Coin operated laundry for the units in basement area.
7 Plex @ 515-525 High street. 5 2-bed units, 1 3 bed unit, 1 bachelor.
Corner of Algonquin & High street.
$900,000
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525 HIGH Street
North Bay, Ontario P1B6R5

MLS® Number: 40652296
13
Bedrooms
0
Bathrooms
4850
Square Feet

Listing Description

This centrally located, cash flowing 7-unit multi-family residential building generates an impressive annual gross income of $107,460. The property consists of five spacious 2-bedroom units, one bachelor unit, and a newly renovated 3-bedroom unit offering views of Lake Nipissing and the downtown area. Blending modern touches with original charm, the building features tall ceilings, crown molding and elegant fireplace accent walls. Three of the 2-bedroom units are currently renting for under market rent, offering excellent potential for increased revenue. Each unit contains it's own rental hot water tank-tenants are responsible for their own hydro and rental costs, providing a consistent income stream for investors. The property also includes 10 parking spaces, hot water heating throughout, and an annually serviced boiler for maximum efficiency and ease. Recent upgrades include a new fire escape for the 3-bedroom unit (thereby meeting occupancy requirements), Fire safety compliance order completed 2024 with several upgrade throughout the building to meet safety standards, a sewer line replacement in 2020, fire-rated shutters, chimney repairs, new fencing, and improvements to flooring, paint, lighting in several units, and updated coin operated laundry space for all tenants. Situated on a spacious 183'x153' lot, the property offers ample living and parking space for tenants. The projected annual net income is $63,221, accounting for 15% management, vacancy, & maintenance costs, and providing a solid 7% CAP rate. (68122313)

Location Description

corner of Algonquin Avenue and High Street

Property Summary

Property Type
Multi-family
Storeys
3
Square Footage
4850 sqft
Subdivision Name
Central
Title
Freehold
Land Size
0.5 ac|1/2 - 1.99 acres
Annual Property Taxes
$7,675.70
Total Parking Spaces
10
Time on REALTOR.ca
40 days

Building

Bathrooms
Total
0
Interior Features
Basement Type
Partial (Unfinished)
Building Features
Features
Laundry- Coin operated
Foundation Type
Block
Rental Equipment
Water Heater
Structures
Shed
Total Units
7
Heating & Cooling
Cooling
None
Heating Type
Other
Utilities
Utility Sewer
Municipal sewage system
Water
Municipal water
Exterior Features
Exterior Finish
Brick, Vinyl siding
Neighbourhood Features
Community Features
School Bus
Amenities Nearby
Golf Nearby, Hospital, Park, Place of Worship, Playground, Public Transit, Schools, Shopping
Parking
Total Parking Spaces
10

Measurements

Square Footage
4850 sqft
Above Grade Finished
4850 sqft
Source: Other

Land

Lot Features
Frontage
183 ft
Land Depth
154 ft
Other Property Information
Access
Road access
Zoning Description
RM1
Data provided by: North Bay and Area REALTORS® Association 1281 Cassells Street, North Bay, Ontario P1B 4B8

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