490 Algonquin Avenue
North Bay, ON
- 3,679 sqft
- Investment
- 39 days on market
Excellent Investment Opportunity - Legal Triplex in the Heart of North BayDon't miss this opportunity to own a legal triplex offering immediate rental income and an attractive 7.39% cap rate. Whether you're an experienced investor looking to expand your portfolio or purchasing your first income property, this well-maintained multi-unit building offers excellent cash flow and long-term investment potential.The property is fully positioned to generate steady rental income while providing future opportunities for growth. With three self-contained residential units, investors benefit from diversified income, reduced vacancy risk, and the security of owning a legal multi-family property in a strong rental market.Ideally located close to schools, shopping, restaurants, churches, parks, healthcare services, and public transit, tenants enjoy easy access to everything North Bay has to offer. Conveniently situated on a bus route, the property appeals to studNorth Bay continues to be one of Northern Ontario's most desirable communities for real estate investment. Home to Nipissing University and Canadore College, the city attracts a steady population of students, faculty, healthcare professionals, and skilled workers, creating ongoing demand for quality rental housing.Known as the Gateway to the North, North Bay offers an exceptional quality of life with hundreds of nearby lakes, world-class fishing, boating, beaches, skiing, snowmobiling, golfing, hiking, cycling, and countless year-round recreational opportunities. Its diverse economy, affordable housing market, and growing regional importance continue to make North Bay an attractive destination for investors seeking long-term stability and growth.Whether you're looking to add a solid income-producing property to your existing portfolio or begin building wealth through real estate, this legal triplex offers an outstanding opportunity to invest in one of Northern Ontario's most vibrant and welcoming community.
Listing Details
- Taxes (2025)
- $4,064
- Listed
- August 12, 2026
Price History
Property
- Lot Size
- 55.41 x 66.41 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Algonquin/Front
- Zoning
- RM1 SP.121
- Parcel Number
- 491640003
- Possession
- Flexible
- Occupancy
- Tenant
Commercial
- Business Type
- Apts - 2 To 5 Units
Community
Postal area P1B
- Population
- 33,113
- Private dwellings
- 16,526
- Median age
- 44.4
- Average household size
- 2.1
- Median household income
- $66,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in North Bay · last 12 months
- Median sold price
- $430,000
- Homes sold
- 689
- Median days on market
- 16
- Sale-to-list price
- 99.6%
Based on 689 recorded sales of commercial properties in North Bay over the last 12 months.
Listed by
SOVEREIGN REALTY GROUP
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Commercial figures
- Building area
- 3,679 sq ft
- Price per sq ft
- $141.29
- Annual property tax
- $4,064
- Tax per sq ft
- $1.10
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
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