550 LAKESHORE DRIVE

Key facts

• Property type: Multi-family
• Structure: Other
• Transaction: For Sale
• Price: class="container" id="details-container",599,999
• Bedrooms: 15
• Bathrooms: 7
• Lot size: 88.1 x 395.5 FT
• Parking: 12
• Listing key: 29803053

Listing overview

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...