245 MATTAWA STREET

About this home

Investment opportunity with main floor 3 commercial/industrial units plus 5 residential apartments fully updated and turn key. Zoned M-2, this building has seen numerous upgrades to each residential unit plus a fire retrofit inspection 2024, updated hot water boiler in 2017. Residential apartments are 2x3 bedrooms and 3x2 bedrooms, all of which have seen large renovations and updates including kitchens, bathrooms, flooring, lighting, trim, 4 built in all in one laundry machines and most windows. The 3 commercial industrial units are 2075 Sqft, 1700 sqft and 700 sqft with high ceilings and 3 grade loading doors. Whole building is gas hot water and tenants rents are all inclusive except for the hydro cost. Actual Income and expense sheet available including management fees on the residential units, vacancy and maintenance allowances. Other supporting documentation upon request, legal non conforming building, Gross Income $177,309 with Net income $119,124 and a Cap Rate of 7.03 including vacancy, utilities, taxes, maintenance and a 5% property management line. A detailed income and expense statement is available, additional supporting documentation provided upon request. All photos are before tenants moved in. (id:66966)

Details

Type

Multi-family

Basement

Other, See Remarks, N/A

Garage

Garage

Property tax

$16,190 (2025)

Neighbourhood

West End

Municipality

North Bay (West End)

Interior

Bedrooms

12 above ground

Fireplace

No

Appliances

Refrigerator, Water meter, Stove, Water Heater

Heating, cooling and services

Heating

Natural gas

Water and sewer

Sanitary sewer

Building and exterior

Foundation

Concrete

Outdoor

Brick, Stucco

Parking

Total parking

17

Driveway and parking

Garage

Location

Location is approximate. See nearby homes on the map