221 ALGONQUIN AVENUE, North Bay (Central)

$2,899,900

For sale: Multiplex

Multiplex at 221 ALGONQUIN AVENUE, North Bay (Central)
Property type
Investment
MLS®
MLS® X13739056
Neighbourhood
Central

This well-positioned multi-use property offers an attractive combination of residential and commercial income potential. The building features 18 one-bedroom apartments and 4 commercial spaces, providing a diverse tenant mix and multiple revenue streams. Located at a highly visible downtown intersection, the property is C-1 zoned and offers excellent exposure. Select residential units feature water views, with North Bay's scenic waterfront and downtown amenities just moments away. Additional features include approximately 25 parking spaces, three sets of new cashless digital operated washers and dryers under lease agreement with Sparkle solutions , and a hot water boiler heating system updated in 2011. The membrane roof coverings were updated in 2012. A Phase 1 environmental report, survey, income and expense statements, and additional supporting documentation are available through the listing brokerage. An excellent opportunity for investors seeking a substantial mixed-use asset with existing income, additional upside potential, flexible commercial opportunities, and a prime downtown location.

Sold data

Multiplex homes in North Bay (Central) — recent sold market

Multiplex homes in North Bay (Central) took a median of 26 days to sell over the last 730 days, with the quickest quarter selling within 13 days and the slowest quarter taking more than 55, across 40 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 28 days.

The median sale price was $387,450.

Homes sold for about 2.9% below asking on average, so there was room to negotiate.

About 10% of sales closed above the list price.

Around 15% of sellers reduced their price before finding a buyer.

Median days to sell
27
Median sale price
$387,450
Sale-to-list ratio
97.1%
Sold above asking
10%

Based on 40 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in North Bay (Central)

North Bay (Central) has 20 Fraser Institute–rated schools (15 elementary and 5 secondary), averaging 4.4/10.

Rated schools
20
Elementary
15
Secondary
5
Average rating
4.4 / 10

Top-rated schools in North Bay (Central)

  • St. Luke — elementary, North BayFraser rating 7.0/10
  • Odyssée — secondary, North BayFraser rating 6.9/10
  • Vincent Massey — elementary, North BayFraser rating 6.6/10
  • Alliance — elementary, North BayFraser rating 5.9/10
  • Chippewa — secondary, North BayFraser rating 5.5/10
  • West Ferris — secondary, North BayFraser rating 5.5/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 221 ALGONQUIN AVENUE