50 Ontario ST, Thunder Bay, Ontario, P7B3E9

Property Description

Solid 5-unit income property in a proven rental location. The building contains a desirable unit mix of one 3-bedroom apartment, one 2-bedroom apartment, and three 1-bedroom apartments. This property has a long track record of steady cash flow and has historically leased quickly during vacancies. Units are in good overall condition with a combination of cosmetic updates throughout, including some refinished hardwood floors and newer laminate flooring. Major capital items include five separate hydro meters, updated electrical with individual breaker panels for each unit, copper plumbing, shingles replaced in 2012, and an updated boiler. A digital thermostat allows remote control of the heating system. Additional features include a detached two-car block garage. Tenants pay their own hydro, while the landlord covers water and gas. Excellent opportunity for investors seeking a well-maintained, low-turnover multi-residential asset. (id:64974)

Quick Facts

• Property Type: Multi-Family
• Bedrooms: None
• Bathrooms: None
• Living Area: 3,000 sq ft (278.7 m²)
• Attached: Yes
• Frontage: 39 ft (11.7 m)

Costs

• Annual Taxes: $4,529.00

Listing Provided by: ROYAL LEPAGE LANNON REALTY
Board: Thunder Bay Real Estate Board
Data provided via CREA DDF®.