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1009 ALGONQUIN AVENUE, North Bay (West End)

· 5 BATHS · 4015 sqft

$399,999

Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. (PRE-INSPECTED for your peace of mind) This is a retail or office building with 3 residential apartments, offering both commercial income and residential upside. The property has 2 commercial units currently generating approximately $2,000 per month combined, with one on a month-to-month lease (all in one paint shop) and the other on a two-year lease (Manga Market). Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartments. All three units are vacant, giving the new owner the opportunity to choose their own tenants. The property has five separate hydro meters and approximately four parking spaces at the rear, with potential for two additional spaces on the side. When fully rented, the property generated approximately $78,000 per year, with historical expenses (excluding mortgage) of approximately $16,000 to $18,000 per year. If you're looking for a property with existing commercial income and strong residential upside, this one is worth a look.

General Info


MLS Listing ID: X14145458 Bedrooms: 0 Bathrooms: 5 Year Built: 0
Listing Type: Business Half Baths: N/A Fireplace Fuel: N/A Maintenance Fee: N/A
Foundation: N/A Roof: N/A Title To Land: N/A Parking Space Total: 4
Parking: N/A Heating: Hot water radiator heat, Baseboard heaters Size: 4015 sqft Air Conditioning : None
Home Style: N/A Finished Floor Area: N/A Fireplaces: N/A Basement: N/A
Water Supply: Municipal water Road Type: N/A Pool Type: N/A

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