608-618 Lorne AVE, North Bay, ON P1B 6X2
608-618 Lorne AVE, North Bay, ON P1B 6X2
608-618 Lorne AVE, North Bay, ON P1B 6X2
608-618 Lorne AVE, North Bay, ON P1B 6X2
608-618 Lorne AVE, North Bay, ON P1B 6X2
608-618 Lorne AVE, North Bay, ON P1B 6X2
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Jag Saini

Jag Saini

+1(905) 609-7653
-
Est. payment | /mo

22 Beds

11 Baths

Save
-
Est. payment | /mo
Save

22 Beds

11 Baths

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 +

Subdivision Central

MLS Listing ID X14103574

Style Bungalow-Raised

Bedrooms 22

Annual Tax Amount $26,832

Tax Year 2026

Property Sub-Type Multiplex

Property Description

This 11-unit residential purpose-built comples 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-bedromm units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financail perspective, the asset generates a gross rental invome 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 spaces, while the utility framework structures all rents plus hydro. Adding to it's 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.

Location

Province ON

County Nipissing

Area Nipissing

Zoning RM1

Rooms

Family Room Yes

Basement None

Kitchen 11

Interior

Interior Features Water Heater

Cooling None

Inclusions 11 Fridges, 11 Stoves, Washer & Dryer

Exterior

Exterior Feature Controlled Entry, Year Round Living

Parking Features Private

Pool None

Roof Type Flat,Tar and Gravel

Lot Frontage 125.0

Lot Depth 96.0

Total Parking Spaces 15

Building

Foundation Concrete Block

Others

Senior Community No

ParcelsYN No

Listed by REALTY EXECUTIVES Local Group Inc. Brokerage

Nearby Locations

Jag Saini

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(905) 609-7653

jag@pinnaclerealty.ca

1625 Steeles Ave E, Brampton, ON L6T 4T7, CAN

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree to receive recurring marketing communication from Pinnacle Realty, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

By checking this box, I agree to the Terms of Service and Privacy Policy of this website.

Go tour this home

608-618 Lorne AVE

Free Account Required

  • Instant access to listing photos & details
  • Save listings and searches
  • Access details for this property