483 1st Ave E

1st Ave E, West Ferris, North Bay, ON, P1B 1K4

Beds

Baths

$425,000

List Price

New

21 days on market

Quick Summary

Profitable 4-unit multi-family property
Opportunity to increase rents to market rates
Separate utility meters allow expense reduction
Basement 1-bedroom unit rented at $735.44
Main floor 3-bedroom unit rented at $838.04
2nd and 3rd floor units rented by room at $2,504.55
Back bachelor unit rented at $703.92
Current annual income of $57,383.40 ($4,781.95/mo)

This cash flowing 4plex provides a ton of upside to add to your investment portfolio. Though it is cash flowing as-is, the rents are under market and can be increased with tenant turnover and strategic renovations. Currently, the rents are all inclusive but there are separate meters which gives you the opportunity to lower your expenses as well. In the basement you'll find a 1 bedroom rented for $735.44, the main floor 3 bedroom is renting for 838.04 while the 2nd and 3rd floors are rented by the room totalling $2504.55 and the back bachelor is bringing in $703.92 for a current annual income of $57,383.40. ($4,781.95/mo). (id:54626)

Property Details

Size

Sq. Ft. Not Available

11 total rooms across 2 floors

9 Beds

9 Above Grade

5 Baths

5 Full

Parking

4 Parking Spaces

Tandem

Lot

Size

416′0″ * 1532′0″

Acres

Build

Year Built

Model Name

Basement

Finished

Exterior

Brick

Foundation

Block

Builder Name

Stories

Flooring

Roof

Heating & Cooling

Heating

Radiant heat

Cooling

Wall unit

Utilities

Water

Municipal water

Sewer

Sanitary sewer

SHOW LESS

Rooms

Bedroom

10′11″ x 12′0″

Bedroom 2

10′11″ x 12′0″

Bedroom

13′11″ x 8′11″

Family room

13′11″ x 14′11″

Kitchen

12′11″ x 11′5″

Bedroom

10′11″ x 8′0″

Ownership Details

Ownership

Title

Freehold

Zoning

Source

Listing Brokerage

MLS® Listing

X9284705

Brokerage

CHASE REALTY INC.

MLS® Listing

X9284705

Last Updated

September 4, 2024

Brokerage

CHASE REALTY INC.

Call us 800-591-0566

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