1 MELISSA STREET, Parry Sound
$950,000
For sale: Multiplex
- Property type
- Fourplex
- Bedrooms / bathrooms
- 10 bedrooms, 4 bathrooms
- Living area
- 3,500 sqft
- MLS®
- MLS® X13533194
- Neighbourhood
- Parry Sound
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.
Sold data
Homes in Parry Sound — recent sold market
Homes in Parry Sound took a median of 38 days to sell over the last 365 days, with the quickest quarter selling within 16 days and the slowest quarter taking more than 71, across 101 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 62 days.
The median sale price was $499,000.
Homes sold for about 4.0% below asking on average, so there was room to negotiate.
About 6% of sales closed above the list price.
Around 37% of sellers reduced their price before finding a buyer.
- Median days to sell
- 38
- Median sale price
- $499,000
- Sale-to-list ratio
- 96.0%
- Sold above asking
- 6%
Based on 101 recorded sales in the last 1 year. Aggregate statistics only; individual sale prices are not shown.
Schools
Schools in Parry Sound
Parry Sound has 2 Fraser Institute–rated schools (2 elementary).
- Rated schools
- 2
- Elementary
- 2
Top-rated schools in Parry Sound
- Parry Sound — elementaryFraser rating 4.5/10
- St Peter's — elementaryFraser rating 1.7/10
School ratings from the Fraser Institute's Ontario school report cards.
Currently for sale
Homes for sale near 1 MELISSA STREET
$989,900
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Multiplex943,500–5,000 sqft53-55 WELLINGTON STREET, 1045 - AC Acton, Halton Hills
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Multiplex1163,500–5,000 sqft81 INNISFIL STREET, Sanford, Barrie
$399,900
Multiplex742,000–2,500 sqft106 FOURTH AVENUE W, Central, North Bay
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Multiplex742,000–2,500 sqft121 SEVENTH STREET, Midland, Midland
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Detached7+342,500–3,000 sqft509 GROVE STREET E, Grove East, Barrie
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Detached7+352,000–2,500 sqft503 GROVE STREET E, Grove East, Barrie