Space
Finished area and layout
- Square Feet
- 5,000-100,000 sqft
- Bedrooms
- 22
- Bathrooms
- 11
+22 more
22
Bedrooms
11
Bathrooms
5,000-100,000 sqft
Square Feet
125 x 96 FT
Lot
15
Parking
Property Snapshot
Key details for this listing
MLS #X14101642
Property
Type, style and structure
- Type
- residential
- Style
- multiplex / Multiplex
- Structure
- Bungalow-Raised
- Ownership
About This Property
This 22-bedroom, 11-bathroom multiplex in North Bay offers 5,000-100,000 sqft of square feet on a 125 x 96 FT lot. 1 storey. The property has zoned RM1. The home features none, a none basement. Highlights include a none pool.
MLS Remarks
This 11-unit residential purpose-built complex delivers immediate cash flow and stands out as a turnkey investment opportunity with strong cash flow and significant principal recapture after mortgage payments. Located on a quiet street just off Algonquin Ave, the property consists entirely of eleven 2-bedroom units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financial perspective, the asset generates a gross rental income of $273,436 with estimated operating expenses of $80,979 (inclusive of management, vacancy, and maintenance), resulting in a solid net income before financing of $192,457 and a highly competitive 6.52% cap rate. Features include hot water boiler system, secure security doors, and 15 dedicated parking spaces, while the utility framework structures all rents plus hydro. Adding to its long-term tenant appeal, the building is situated within easy walking distance of local shopping, neighborhood restaurants, and the main bus route on Algonquin Ave itself. Please note that the listing photos provided were taken previous to the tenants moving into the units. (id:60351)
Full Listing Details
Address608-618 Lorne Avenue, North Bay, ON P1B 6X2
MLS#X14101642
Listing StatusActive
Property TypeResidential
Sub-TypeMultiplex
TransactionSale
List DateOct 21, 2026
Days on Market4
Common InterestFreehold
Annual Tax$26,832 (2026)
Parking15
Parking TypePrivate
Structure TypeOther
StyleBungalow-Raised
ConstructionBrick, Metal/Steel Siding
Bedrooms22
Bathrooms11
Bedrooms Above Grade22
Square Feet5,000-100,000 sqft
Kitchens11
Stories1
CityNorth Bay
ProvinceOn
Postal CodeP1B 6X2
Lot Dimensions125 x 96 FT
Frontage125.0 feet
ZoningRM1
Zoning DetailsRM1
Total Parking15
Parking FeaturesPrivate
CoolingNone
BasementNone
RoofFlat, Tar and Gravel
FoundationConcrete Block
ExteriorControlled Entry, Year Round Living
CommunitySchool Bus
PoolNone
SewerSewer
Annual Tax$26,832 (2026)
Follow Algonquin Avenue to Lorne St.
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