14 MILFORD CRESCENT, North Bay, Ontario P1A 1M3
$3,495,000.00
- 23 bedrooms
- 12 bathrooms
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 ... read more
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:25417)
- Listing ID: X14101536
- Property Type: Multi-family
| Property | |
|---|---|
| Lot Size: | 123 by 125 FT Partially Fenced |
| Parking: | No Garage 13 Spaces |
| Building | |
|---|---|
| Type: | Multi-family Other |
| Appliances: | Two Refrigerators, Two Stoves and Water Heater |
| HVAC: | Fireplace Natural Gas |
| Exterior: | Brick and Steel |
| Basement: | None |
| Utilities: | Sanitary Sewer |
| Location | |
|---|---|
| City: | North Bay |
| Province: | Ontario |
| Nearby Amenities: | Beach, Park, Public Transit and Schools |
| Community Features: | Community Centre and School Bus |
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