31 John Street Sturgeon Falls, Ontario P2B 1X9
$699,000
Modernized four-unit building features three 2-bedroom units & one 1-bedroom unit, each equipped with in-suite laundry and individually metered for hydro, ensuring streamlined operations and predictable expenses. Net annual income of $50,796 (after management, vacancy, & maintenance fees). Gross annual income of $72K, this turn-key asset offers solid returns. Double the rental income by adding four more units makes this a strategic investment! The property is zoned R3, includes a substantial side lot, offering the potential to build an additional 4-plex—positioned to get a permit and start building plans! Located on a desirable corner lot in Sturgeon Falls, close to essential amenities such as parks, restaurants, shopping, and the Upper Sturgeon River, it attracts professional tenants. . Potential vendor take-back (VTB) financing available, this property presents a compelling opportunity for investors and builders looking to capitalize on future growth. (id:58043)
Property Details
| MLS® Number | 40621842 |
| Property Type | Multi-family |
| AmenitiesNearBy | Hospital, Park, Place Of Worship, Playground, Schools, Shopping |
| CommunityFeatures | Community Centre, School Bus |
| ParkingSpaceTotal | 6 |
Building
| BathroomTotal | 4 |
| BedroomsTotal | 7 |
| BasementDevelopment | Unfinished |
| BasementType | Partial (unfinished) |
| ConstructedDate | 1920 |
| CoolingType | None |
| ExteriorFinish | Vinyl Siding |
| FoundationType | Stone |
| HeatingFuel | Electric |
| HeatingType | Baseboard Heaters |
| StoriesTotal | 2 |
| SizeInterior | 1750 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| LandAmenities | Hospital, Park, Place Of Worship, Playground, Schools, Shopping |
| Sewer | Municipal Sewage System |
| SizeDepth | 115 Ft |
| SizeFrontage | 66 Ft |
| SizeTotalText | Under 1/2 Acre |
| ZoningDescription | R3 |
https://www.realtor.ca/real-estate/27199429/31-john-street-sturgeon-falls
Interested?
Contact us for more information
Mike Burman
Broker of Record
325 Main Street, West
North Bay, Ontario P1B 2T9
Josee Laperle
Salesperson
325 Main Street, West
North Bay, Ontario P1B 2T9
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August 07 2024 03:06:37
North Bay Real Estate Board
Realty Executives Local Group Inc. Brokerage