441 Algonquin Avenue

Introducing a remarkable opportunity: a Multi-Family Home for sale in North Bay , located at 441 Algonquin Avenue, North Bay. This spacious two-storey multiplex is nestled in the highly sought-after Central community, making it an ideal investment for those seeking a reliable income-generating property. With a total of six bedrooms and three bathrooms, this residence is designed to accommodate multiple families comfortably.

As you explore this Multi-Family Home for sale in North Bay, you will discover that it comprises three distinct units, each offering its own unique layout. Unit 1 features three generously sized bedrooms and a well-appointed bathroom, making it perfect for a larger family or tenants seeking more space. Unit 2 boasts two bedrooms and a bathroom, while Unit 3 is a cosy one-bedroom unit, ideal for individuals or couples. The property currently generates a total rental income exceeding £4,300 per month, with stable and long-term tenants expressing their willingness to remain, ensuring a steady cash flow for the new owner.

The exterior of this property at 441 Algonquin Avenue, North Bay, is clad in durable vinyl siding, providing both aesthetic appeal and low maintenance. The lot measures an impressive 97 by 95 feet, offering ample outdoor space for tenants to enjoy. Although there is no pool or garage, the front yard parking accommodates up to three vehicles, ensuring convenience for residents and their guests. The property is unfurnished, allowing new owners the freedom to personalise each unit according to their preferences.

Inside, the Multi-Family Home for sale in North Bay features a total of nine rooms, including three kitchens, which are essential for each unit's functionality. While there is no central vacuum system or family room, the layout allows for comfortable living arrangements. The heating is provided by a forced air system, ensuring warmth during the colder months. Additionally, the property benefits from municipal water and sewer services, further enhancing its appeal.

Although the basement remains unfinished, it presents an excellent opportunity for future development or additional storage space. The absence of air conditioning may be a consideration for some, but the property's strategic location ensures that residents can enjoy the fresh air and natural surroundings. The private fenced yard, surrounded by mature trees, offers a tranquil retreat for tenants, providing a sense of privacy and security.

This Multi-Family Home for sale in North Bay is ideally situated close to a variety of shops, restaurants, and public transit options, making it an attractive choice for potential tenants. The Central community is known for its vibrant atmosphere and accessibility, ensuring that residents have everything they need within reach.

In summary, 441 Algonquin Avenue, North Bay, presents an outstanding investment opportunity in the form of a Multi-Family Home for sale in North Bay. With its stable rental income, spacious living arrangements, and prime location, this property is a turn-key income-generating investment that should not be overlooked. Whether you are an experienced investor or a first-time buyer looking to enter the property market, this multiplex offers the perfect blend of functionality and potential.

Do not miss your chance to own this exceptional property. Contact us today to arrange a viewing of this Multi-Family Home for sale in North Bay and explore the possibilities that await at 441 Algonquin Avenue, North Bay. Your future investment could be just a call away!

Central is a vibrant and bustling area in North Bay, characterised by its mix of residential and commercial spaces. Nestled close to the heart of the city, it offers a convenient lifestyle with easy access to essential amenities, including shops, restaurants, and parks. The neighbourhood is well-connected by public transport, making it ideal for those who wish to explore the wider region. Central boasts a diverse population, fostering a welcoming atmosphere where neighbours often engage in local events and activities. With its blend of urban convenience and community spirit, Central is an appealing choice for anyone looking to settle in North Bay.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to a range of age groups and educational needs. Just 0.2 km away is Mother St. Bride Catholic Elementary School, offering grades JK to 8, followed closely by St. Joseph-Scollard Hall Catholic Secondary School at 0.9 km, which serves grades 9 to 12. Both schools are part of the Nipissing-Parry Sound Catholic District School Board. For public schooling, Alliance Public School is a mere 1.2 km away, providing quality education for grades JK to 6 with a commendable rating of 4.5. Chippewa Secondary School, located 1.4 km from the property, offers both English and French instruction for grades 7 to 12, boasting an impressive rating of 4.9. This diverse selection of schools ensures that families have access to high-quality education in both public and Catholic systems, making this property an ideal choice for families prioritizing education.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 458 residents, with an average household size of 1.7 individuals. The community has a relatively mature demographic, with an average age of 42.8 years. Economically, the average household income stands at $52,800, but a significant portion, 32.5%, falls under the low-income category. The average property price in the area is approximately $360,000, indicating a moderately priced real estate market. A notable 65.88% of the population is single, while only 25% of households include children, suggesting a predominantly adult community. The rental market is strong, with 78.43% of residents renting their homes, and there are no condominiums present in the area. Educational attainment is relatively high, with 48.1% of the population holding a college or university degree. Additionally, a considerable portion of the population, 39.24%, is not in the labor force, and there are no immigrants reported in the community. Overall, this demographic snapshot indicates a stable, primarily adult population with a significant reliance on rental housing and a diverse educational background.