221 Algonquin Avenue

About This Property

This well-positioned multi-use property offers an attractive combination of residential and commercial income potential. The building features 18 one-bedroom apartments and 4 commercial spaces, providing a diverse tenant mix and multiple revenue streams. Located at a highly visible downtown intersection, the property is C-1 zoned and offers excellent exposure. Select residential units feature water views, with North Bay's scenic waterfront and downtown amenities just moments away. Additional features include approximately 25 parking spaces, three sets of new cashless digital operated washers and dryers under lease agreement with Sparkle solutions , and a hot water boiler heating system updated in 2011. The membrane roof coverings were updated in 2012. A Phase 1 environmental report, survey, income and expense statements, and additional supporting documentation are available through the listing brokerage. An excellent opportunity for investors seeking a substantial mixed-use asset with existing income, additional upside potential, flexible commercial opportunities, and a prime downtown location.