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Est. payment /mo
New
490 Algonquin AVE North Bay, ON P1B 4W5
4 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision Central
MLS Listing ID X13658630
Style 1 1/2 Storey
Bedrooms 4
Annual Tax Amount $4,063
Tax Year 2025
Property Sub-Type Triplex
Property Description
Excellent Investment Opportunity - Legal Triplex in the Heart of North BayDon't miss this opportunity to own a legal triplex offering imm rental income attractive 7.39% cap rate. Whether you're an experienced investor looking to expand your portfolio or purchasing your first income property, this well-maintained building offers excellent cash flow and long-term investment potential.The property is fully positioned to generate steady rental income while providing future opportunities for growth. With three self-contained residential units, investors benefit from diversified income, reduced vacancy risk, and the security of owning a legal multi-family property in a strong rental market.Ideally located close to schools, shopping, restaurants, churches, parks, healthcare services, and public transit, tenants enjoy easy access to everything North Bay has to offer. Conveniently situated on a bus route, the property appeals to students, professionals, families, anNorth Bay continues to be one of Northern Ontario's most desirable communities for real estate investment. Home to Nipissing University and Canadore College, the city attracts a steady population of students, faculty, healthcare professionals, and skilled workers, creating ongoing demand for quality rental housing.Known as the Gateway to the North, North Bay offers an exceptional quality of life with hundreds of nearby lakes, world-class fishing, boating, beaches, skiing, snowmobiling, golfing, hiking, cycling, and countless year-round recreational opportunities. Its diverse economy, affordable housing market, and growing regional importance continue to make North Bay an attractive destination for investors seeking long-term stability and growth.Whether you're looking to add a solid income-producing property to your existing portfolio or begin building wealth through real estate, this legal triplex offers an outstanding opportunity to invest in one of Northern Ontario's most vibrant and welcoming communities
Location
State ON
County Nipissing
Area Nipissing
Zoning RM1 SP.121
Rooms
Family Room No
Basement Apartment
Kitchen 3
Separate Den/Office 1
Interior
Interior Features Primary Bedroom - Main Floor
Cooling None
Exterior
Parking Features Private Triple
Pool None
Roof Type Asphalt Shingle
Lot Frontage 55.41
Lot Depth 66.41
Total Parking Spaces 3
Building
Foundation Block, Concrete
Others
Senior Community No
ParcelsYN No
Listed by SOVEREIGN REALTY GROUP