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$649,900
Status: For Sale
Discover this thriving investment opportunity strategically located within walking distance to amenities, public transportation and beautiful Lake Nipissing. This well cared for, low maintenance building combines a long-term commercial tenant (Raven Hair Salon) and a small retail shop on the main floor with two updated two-bedroom apartments on the upper floor. The roof (shingles and membrane) was replaced in October 2022. There is a shared laundry on upper floor. The main floor is heated by gas forced air furnace while the upper apartments are heated by hydro (4 meters in back basement). Financially, this property supports a good cap rate generating a gross annual income of $76,620, providing consistent rental income from the secure, commercial leases ensuring steady cash flow from the residential leases. Don't miss out on this chance to secure a lucrative addition to your investment portfolio.
| Property Type | :Residential Freehold |
|---|---|
| MLS Number | :X12016575 |
| Listing Type | :Sale |
| Possession Date | : |
| Last Updated | :21 Apr, 2025 (4 Days ago) |
| Source | :Toronto Regional Real Estate Board |
| Area | :Nipissing |
|---|---|
| Postal Code | :
P1B 1Z3
|
| Price | : $649,900 |
|---|---|
| Property Taxes | :$10804.02 |
| Tax Year | :2025 |
|---|
| Bedrooms | :4 + |
|---|---|
| No. of Rooms | :6 |
| Air Conditioning | :Central Air |
| Heating | :Forced Air |
| Cross Street | :Between McIntyre & Main |
| Bathrooms | :5 |
|---|---|
| Fuel | :Gas |
| Approx Square Footage | :2500-3000 sqft |
| Fireplace/Stove | :No |
| Exterior Finish | :Aluminum Siding, Concrete Block |
|---|---|
| Parking Space | :0 |
| Basement | :Separate Entrance |
| Laundry Level | :Upper Level |
|---|
15 Apr, 2025
TREB #X12016575
Property update
$649,900
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