608-618 Lorne Ave is a 22-bedroom, 11-bathroom multiplex in North Bay, listed for $2,950,000. It has 5000 + sq ft of living space.
1Features include hot water boiler system, secure security doors, and 15 dedicated spaces, while the utility framework structures all rents plus hydro.
2Please note that the listing photos provided were taken previous to the tenants moving into the units.
This 11-unit residential purpose-built comples delivers immediate cash flow and stands out as a turnkey investment opportunity with strong cash flow and significant principal recapture after mortgage payments. Located on a quiet street just off Algonquin Ave., the property consists entirely of eleven 2-bedromm units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financail perspective, the asset generates a gross rental invome of $273,436 with estimated operating expenses of $80,979 (inclusive of management, vacancy, and maintenance), resulting in a solid net income before financing of $192,457 and a highly competitive 6.52% cap rate. Features include hot water boiler system, secure security doors, and 15 dedicated spaces, while the utility framework structures all rents plus hydro. Adding to it's long-term tenant appeal, the building is situated within easy walking distance of local shopping, neighborhood restaurants, and the main bus route on Algonquin Ave itself. Please note that the listing photos provided were taken previous to the tenants moving into the units.
22 bedrooms, 11 bathrooms, about 5,000 sq ft, works out to roughly $590 per square foot. Chat with Zara if you'd like a deeper read on whether this multiplex fits your budget and timing.
Inside 608-618 Lorne Ave
Every detail from the listing, in one place.
Type
Multiplex
Style
Bungalow-Raised
Living space
5000 + sq ftas stated on the listing
Parking
15 spaces
Basement
None
Features & systems
Parking & garage
Parking spaces
15
Interior
Basement
None
Lot & land
Lot size (sqft)
0
Listing & possession
Property style
Bungalow-Raised
Property class
Multiplex
608-618 Lorne Ave Price & Sale History
Earlier listings of this property, list-price changes, and the most recent annual property tax on the listing.
For saleListedThis listingMLS® X14103574$2,950,000
Sourced from MLS®. Includes earlier listings of this property on record.
What's it worth?
How 608-618 Lorne Ave Compares to the North Bay Market
Zara compares it with recent sales of similar homes nearby. It's a guide, not an appraisal.
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Monthly cost
Enter a rate to see the monthly cost
An estimate, not a quote. Utilities and insurance are extra.
Affordability calculator
Estimated monthly payment
$14,492
/mo
based on the purchase price of $2,950,000
$590,000 cash
$2,360,000 financed
$1,987,739 total interest
Principal54%$2,360,000
Interest46%$1,987,739
20% down · 25-yr amortization · 5.50% rate. Principal & interest only — taxes, condo fees, and insurance not included.
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Figures are Summitly estimates for illustration only — not from TRREB or the MLS® feed, and not a mortgage approval, appraisal, or financial advice.
Rental income potential
Est. monthly rent
low–high
Gross yield
rent × 12 ÷ price
Cap rate (est.)
net of tax + fees
Summitly AI estimate for discussion only — not from TRREB or the MLS® feed, and not an appraisal or investment advice. Yield and cap rate are derived from the estimated rent versus the asking price.
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Mortgage financing is arranged through Mortgage Squad Advisors. Summitly is the technology platform that powers this site. Estimated values, AI insights, calculator results, and rental projections shown on this page are generated by Summitly and are not provided by, reviewed by, or sourced from TRREB, the MLS®, or the listing brokerage; they are not appraisals or opinions of value. The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The Coldwell Banker® name and logo are trademarks of Coldwell Banker Real Estate LLC.
Similar homes for sale nearby in North Bay
Other 23-bed homes for sale in North Bay around $3.0M.
Average days on market26Homes sold in about 26 days on average.
Sale-to-list ratio98.8%On average, homes sold below asking.
Active listings184Homes for sale here right now.
Median vs prior 90 days−4.0%Compared with Apr 25 – Jul 24, 2026: prices down.
Based on 334 sales from Jul 24 – Oct 22, 2026 (176 in the prior 90 days). Aggregate MLS® figures for closed sales; individual sold prices are shown only to signed-in members.
Questions About 608-618 Lorne Ave
How much is 608-618 Lorne Ave listed for?
608-618 Lorne Ave is listed at $2,950,000 (MLS® X14103574). Summitly updates the price as soon as the MLS® record changes.
Is $2,950,000 a good price for 608-618 Lorne Ave?
Summitly rates it Well Above Market: the asking price is 15% or more above Zara's estimate, an estimate built from recent sales in North Bay. The rating is an automated opinion, not an appraisal; "What's it worth?" on this page shows how it is worked out. See Zara's estimate
Has the price of 608-618 Lorne Ave changed?
No — 608-618 Lorne Ave is still listed at its original asking price of $2,950,000.
How many bedrooms and bathrooms does 608-618 Lorne Ave have?
608-618 Lorne Ave has 22 bedrooms and 11 bathrooms, with about 5,000 square feet of living space. It is a multiplex in North Bay.
How much would the monthly mortgage be on 608-618 Lorne Ave?
About $14,492 a month — principal and interest on $2,950,000 with 20% down ($590,000), a 25-year amortization and an assumed 5.5% interest rate. The mortgage calculator on this page lets you change the down payment, amortization and rate.
How does 608-618 Lorne Ave compare with other homes in North Bay?
Its asking price of $2,950,000 is about 594% above the median sold price in North Bay over the last 90 days, $425,000, across 334 closed sales on the TRREB MLS®. A city median mixes every type and size of home, so the comparable sales on this page are the closer guide.
Has 608-618 Lorne Ave been sold before?
Summitly has no earlier MLS® sale or lease of 608-618 Lorne Ave on record from the last two years. Older records aren't shown under TRREB rules.
Where is 608-618 Lorne Ave?
608-618 Lorne Ave is in North Bay, ON. Schools, transit, parks and shops nearby are under Location & lifestyle on this page.
How long has 608-618 Lorne Ave been on the market?
1 day — 608-618 Lorne Ave was listed on October 21, 2026.
What is the price per square foot of 608-618 Lorne Ave?
About $590 per square foot: the asking price of $2,950,000 over the 5,000 sq ft the listing gives.
Does 608-618 Lorne Ave have parking or a garage?
Yes — the listing gives 15 parking spaces.
Does 608-618 Lorne Ave have a basement, and is it finished?
The listing says 608-618 Lorne Ave has no basement.
