Salehian.com 647-325-5000

1 Melissa Street

Parry Sound, Parry Sound, P2A 2R4

$950,000

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  • 10 bedrooms
  • 4 bathrooms
  • 7 parking
  • 3000-3500 sq ft

Listed 105 days ago · MLS® X13533194

About this home

Exceptional 4 Plex Investment Opportunity in the thriving Town of Parry Sound. Fantastic offering at an 8+ cap rate. This well maintained, purpose built fourplex offers a rare combination of strong income potential, low maintenance ownership, and long term investment stability in the heart of Northern Ontario cottage country. Featuring three spacious 3 bedroom units and one 1 bedroom unit, all separately metered for hydro, this solid asset is ideally positioned close to the hospital, vibrant downtown core, and the breathtaking shores of Georgian Bay. Built in 1991 with notable updates including windows and shingles, this property offers reliable cash flow with established long term tenants already in place. Ample front and rear parking further enhances tenant convenience and desirability. An outstanding opportunity for investors seeking to expand their portfolio with a high performing multi residential asset in a growing and highly desirable community. The building has total 4 units. 3 units are 3 bed room with 13x13 Hall and kitchen; 10x13 Bedroom 1 ; 9.6x12 bedroom 2 9.6x10 bedroom 3. Three units fully renovated in June 2025 with high-quality modern finishes (1) Vinyl flooring installed throughout all units (2) Brand new plumbing and fixtures (3) New kitchen upgrades including cabinets, fridge, stove, and fittings (3) Newly renovated bathrooms with contemporary finishes. Freshly painted interiors throughout (4) New washer and dryer installed (2025) (5) Tenants currently in place (6) All utilities paid by tenants, ensuring efficient operating costs (7) Each unit features a separate private entrance (8) Ample parking with 2- car parking available per unit. One unit is one bedroom: - The tenant is planning to move soon. Can be easily converted to 2 bedroom unit. Increasing rental value.

Details

Type
Fourplex
Style
2-Storey
Age
31-50 years
Size
3000-3500 sq ft
Lot
202.47 × ? ft
Basement
None
Garage
None
Kitchens
4
Property tax
$5,215 (2025)
Neighbourhood
Parry Sound
Municipality
Parry Sound

Interior

Bedrooms
10 above ground
Bathrooms
1 × 4-piece (sub-basement), 1 × 4-piece (sub-basement), 1 × 4-piece (main), 1 × 4-piece (main)
Rooms
19 above ground
Family room or den
No
Fireplace
No

Heating, cooling and services

Heating
Baseboard, Electric
Water and sewer
Sewer

Building and exterior

Style
2-Storey
Exterior
Brick
Roof
Asphalt Shingle, Shingles
Foundation
Concrete Block
Age
31-50 years
Faces
West

Parking

Total parking
7
Driveway and parking
Available

Lot

Size
202.47 × ? ft (irregular)
Acreage
.50-1.99

More

Possession
60-90 days
Nearby
Hospital, School
Cross street
Hwy 400 to Bowes St to Forest St to Parry Sound Rd, right to Melissa St (left) on corner

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Somewhat walkable

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: 2 grocery stores, 2 cafés and restaurants, 3 parks, 1 pharmacy. Nearest grocery: The Farmers Market (550 m). Nearest park: Booth Street Park (100 m).

Schools nearby

Elementary

  • Parry Sound Public School2.3 km

Secondary

  • Parry Sound High School
    EQAO: Gr 9 math 40%, literacy test 69%    2.3 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area P2A

Owners / renters
76% / 24%
Median household income
$73,500
Average age
49
Children under 15
12%
Homes
75% detached, 3% high-rise
Commute by transit
0%
Population
14,695

Languages spoken most at home besides English: Malayalam 0.1%, German 0.1%, Gujarati 0.1%, Ojibway 0.1%.

Safety

Crime Severity Index for West Parry Sound (Parry Sound) (OPP): 100 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise 1 source nearby

  • 🚆 Rail line (Parry Sound Subdivision)150 m

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by ROYAL LEPAGE TERREQUITY REALTY.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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