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26
$424,999 Sale
Listed 49 days ago
1009 ALGONQUIN AVENUE
· 0
· 5.0
· 4
· 4015
Key Facts
Key facts for 1009 ALGONQUIN AVENUE
Property Type
Commercial
Parking
Garage: No, 4 parking
MLS #
X13707952
Size
4015 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
Description
Investor opportunity in North Bay !1009 Algonquin Avenue, A 5-unit mixed-use investment property. 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 p...er month combined, with one on a one-year lease and the other on a two-year lease. Both commercial tenants pay their own hydro. The 3 residential units consist of 2 one-bedroom and 1 two-bedroom apartment. All three will be vacant by August 30, 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. (id:10452)
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Listing courtesy of: Revel Realty Inc. Brokerage
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