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Business For Sale · Multifamily

245 MATTAWA STREET, North Bay (West End)

245 MATTAWA STREET, North Bay (West End), ON P1B4M2

$1.7M total

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

94%

Lot Size

8950 ac

About this property

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:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$1.70M
Down payment30% · $509K
Interest rate6.25%
Amortization25 years
Occupancy94%
Expense growth2.5%

Monthly debt service

$8K

Projected NOI

$75K

Annual cash flow

$-19K

Cash-on-cash

-3.76%

DSCR

0.80

Going-in cap

4.41%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

78,280

Households

35,138

Median income

$95,000

Median age

42

Daytime population

112,799

5-yr growth

5.2%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 245 MATTAWA STREET, North Bay (West End).

NDA required

  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.