ON > North Bay
North Bay, ON P1B 3W2,850 CLARENCE ST
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North Bay, ON P1B 3W2,850 CLARENCE ST
North Bay, ON P1B 3W2,850 CLARENCE ST
North Bay, ON P1B 3W2,850 CLARENCE ST
North Bay, ON P1B 3W2,850 CLARENCE ST
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Jeff Somlo

Jeff Somlo

+1(647) 998-3693
$ 1,650,000
Est. payment /mo
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Active Under Contract

850 CLARENCE ST North Bay, ON P1B 3W2

16 Beds

12 Baths

9,600 SqFt

UPDATED:

12/16/2024 04:02 PM

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 9,600 sqft

Price per Sqft $171

MLS Listing ID X10708106

Bedrooms 16

Annual Tax Amount $25,424

Tax Year 2024

Property Description

Prime Investment Opportunity! With robust rental income and a solid 8% CAP rate, this property is a strong investment option. This exceptional 12-unit income property is situated in a highly sought-after area, conveniently located on a public transportation route and just minutes from both the college and university. The building features a diverse mix of units, including 1 bachelor unit, 6 one-bedroom units, and 5 two-bedroom units, all complemented by ample on-site parking. The surrounding neighborhood offers a full range of amenities, from schools and parks, to restaurants and shopping centers, ensuring a high demand for rentals. The bachelor unit is currently undergoing renovations and will soon be completed, further enhancing the property's appeal. A comprehensive Buyer's Package is available for qualified buyers upon request.

Location

Province ON

County Nipissing

Area Nipissing

Zoning RM4

Rooms

Basement Finished, Full

Kitchen 0

Interior

Interior Features Other

Cooling None

Inclusions Coin operated Washer (x1) & Dryer (x2)., Other, Hot Water Tank Owned

Laundry Common Area, Coin Operated

Exterior

Exterior Feature Controlled Entry, Year Round Living, Private Entrance

Parking Features Other, Reserved/Assigned, Mutual

Garage Spaces 15.0

Pool None

Community Features Public Transit

Utilities Available Unknown

Roof Type Asphalt Shingle

Total Parking Spaces 15

Building

Foundation Block

New Construction false

Others

Senior Community No

Security Features Alarm System,Other

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage
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850 CLARENCE ST