397 Empire AVE, Thunder Bay

$1,490,000

For sale: Multiplex

Multiplex at 397 Empire AVE, Thunder Bay
Property type
Multi-family
Year built
Built in 2025
MLS®
MLS® TB2601223
Neighbourhood
Thunder Bay

PREMIER INVESTMENT OPPORTUNITY: BRAND NEW, FULLY RENTED 4-PLEX! Secure your future with this turn-key investment property—a stunning, newly constructed 4-plex in a quiet, highly desirable pocket of Westfort. This property is built to attract and retain quality tenants, boasting superior construction including an ICF basement for unmatched efficiency. Each of the four currently rented units offers 2 bedrooms, premium features like granite countertops, open-concept living, in-suite laundry, individual heating systems, hot water on demand, and separate entrances and driveways. Its prime location offers residents walkable access to bus routes, schools, parks, and Westfort Village amenities. With all four units currently rented, this is a rare chance to acquire a fully stabilized income property providing immediate, stable cash flow. Don't miss out on this low-risk, high-return asset; contact agent for the full investment package.(PICTURES ARE BEFORE TENANTED - All units have the same quality with different finishings for both 397 and 401 Empire) (Adjacent 4plex also for sale) Apt A - $2250; Apt B - $2250; Apt C - $2150. Apt D - $2250 - All rents plus Heat and Hydro.

Sold data

Multiplex homes in Thunder Bay — recent sold market

Multiplex homes in Thunder Bay took a median of 32 days to sell over the last 365 days, with the quickest quarter selling within 18 days and the slowest quarter taking more than 72, across 33 recorded sales.

The median sale price was $599,000.

Homes sold for about 0.8% below asking on average, so there was room to negotiate.

About 33% of sales closed above the list price.

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

Median days to sell
32
Median sale price
$599,000
Sale-to-list ratio
99.2%
Sold above asking
33%

Based on 33 recorded sales in the last 1 year — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Thunder Bay

Thunder Bay has 35 Fraser Institute–rated schools (29 elementary and 6 secondary), averaging 6.3/10.

Rated schools
35
Elementary
29
Secondary
6
Average rating
6.3 / 10

Top-rated schools in Thunder Bay

  • Vance Chapman — elementaryFraser rating 9.1/10
  • St Francis — elementaryFraser rating 8.9/10
  • Nor'wester View — elementaryFraser rating 8.7/10
  • St Paul — elementaryFraser rating 8.5/10
  • Five Mile — elementaryFraser rating 8.4/10
  • Ecole Elsie MacGill — elementaryFraser rating 8.0/10

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

Currently for sale

Homes for sale near 397 Empire AVE