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    For Sale - 550 Lakeshore Drive, North Bay, Ontario

    Est payment $7,683/mo
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    Time on Jump  43 day

    AI Summary *

    • Established 6+1 unit income property on a prime Lakeshore Drive parcel.
    • Flexible unit mix with six 2-bedroom and one 3-bedroom units available.
    • Potential for renovations to increase value and optimize rental income.
    • Zoning allows for possible redevelopment into stacked townhouses or apartments.
    • Conveniently located near shops, parks, schools, and public transit.




    Rare opportunity to acquire a well-established 6+1 unit income property on an approximately 0. 80-acre parcel along a prime stretch of lakeshore drive in north bay. The property offers an attractive existing unit mix, including six 2-bedroom units and one 3-bedroom unit, and additional below-grade / partially completed space, creating meaningful upside through rent normalization, targeted unit improvements, and longer-term redevelopment potential. The property provides flexibility for investors, end-users, builders, and developers. Maintain the asset as an income-producing property, renovate to enhance value, optimize the existing unit mix, or explore redevelopment opportunities. Stabilized market rent projections indicate materially improved income performance, with further upside available through unit optimization. Under the existing r6 zoning, a conceptual redevelopment plan indicates potential for a 16-unit stacked townhouse format with approximately 25,000 sq. Ft. Of buildable area. Additional upside may also be available through a future rezoning to rm3, which could potentially support a 3 to 4 storey apartment building, subject to municipal review and approvals. Current rental income provides holding stability with substantial rent normalization upside while redevelopment plans are evaluated, making 550 lakeshore a compelling opportunity to secure a foothold in one of north bay's evolving residential corridors. Buyer to conduct their own due diligence regarding zoning, rents, expenses, unit mix, permitted uses, development potential, and future approvals. The property located along a transit-supported arterial corridor, the site is close to shops, restaurants, parks, schools, public transit, and surrounding residential amenities. The area continues to benefit from growth and intensification initiatives supporting a broader range of housing options over time.
    Listing IDX13172154
    Address550 Lakeshore Drive
    CityNorth Bay, Ontario
    Price$1,599,999
    Bed / Bath15 / 7 Full
    Style1 Storey/Apt, Multiplex
    ConstructionWood ,Vinyl Siding
    Land Size0.773
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features NoneAmenities Fenced Yard, Golf, Lake Access, Place Of Worship, Public Transit, SchoolOwnership FreeholdAppliances NoneBasement NoneFoundation Concrete Block, WoodHeating / Cooling BaseboardHeating Fuel GasSewer Sewer

    Parking 12.00
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    Listing Agency:  ROYAL LEPAGE TERREQUITY REALTY

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    550 Lakeshore Drive
    North Bay , Ontario
    15 7 $1,599,999
    Get more info