245 Mattawa Street, North Bay, ON
Property Highlights
Welcome to this remarkable investment located in the coveted neighborhood of West End. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $1,695,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 8 Bathrooms
- Premium 164.7 x 37.03 ft lot size
- Convenient other garage included
- equipped with no central cooling and highly efficient gas hot water heating
Description
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.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 245 Mattawa Street, North Bay, ON P1B 4M2
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in North Bay, ON
For a property listed at $1,695,000 in North Bay, the legal minimum down payment is $339,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $30,375 for this transaction. As this listing is in North Bay (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $30,375.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.