North Bay - College Heights
North Bay - College Heights
Listed For $1,140,000
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TURNKEY CASH FLOWING 13 UNIT RESIDENTIAL COMPLEX SITTING ON 1 ACRE CONSISTING OF NEWLY RENOVATED 3 BEDROOM STAND - ALONE HOUSE, AND A 12 UNIT CONVERTED MOTEL REZONED IN 2022 WITH 11 BACHELOR UNITS AND 1 X 1 BEDROOM UNIT. GROSS RENTS ARE $133,962 WITH EXPENSE CALCULATION INCLUDING PROPERTY MANAGEMENT, VACANCY & MAINTENANCE EQUALLING $48,402 GIVING A NET INCOME BEFORE MORTGAGE OF $82,218 THIS COMPLEX HAS ONLY 7 UNITS CLOSE TO OR AT MARKET RENT GIVING THE NEW OWNER ROOM TO LIFT THEIR INVESTMENT WHEN THE REMAINING 5 TENANTS MOVE OUT. MANY SUPPORTING DOCS ON INCLUDING NEW SHINGLES WITH ICE GUARD TO PEAK 2023, SITE PLAN CONTROL SHOWING ALL BUILDINGS PARKING ETC., WATER TESTING & WELL REPORTS, ZONING CONFIRMATIONS, FIRE RETROFIT 2014 AND OF COURSE A DETAILED INCOME & EXPENSES REPORT. 3 BEDROOM H
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