230 Brodie Street, Thunder Bay, ON

Description

Exceptional investment opportunity to own a legally recognized 12-unit apartment building in a prime central location. Originally built in 1913, this solid brick and stone character property blends historic charm with significant long-term income potential. Designated as a historical building, the property showcases timeless architectural appeal while benefiting from numerous important updates and improvements over the years. This legal non-conforming 12-plex offers twelve self-contained 1-bedroom units, each featuring a full bathroom, kitchen, living area, and dual entrances. Hardwood flooring exists beneath most floor coverings, with a mix of carpet, vinyl, and linoleum currently throughout. All existing appliances are included in the sale. Extensively maintained, the property features a newer metal roof completed in 2021, updated eavestroughs and downspouts completed in 2026, a 400-amp main electrical service, separately metered units, owned hot water tanks, and a newer natural gas forced-air heating system servicing the basement area, with electric baseboard heating in each individual unit. The front stairwell was added approximately five years ago to satisfy fire code requirements following a satisfactory fire inspection report. Additional improvements and compliance upgrades have also been completed, reflecting pride of ownership and ongoing care. The building sits on a 49.82’ x 99.34’ lot and offers strong upside potential for investors looking to expand or stabilize their portfolio. Currently tenant parking is street parking only, with future parking considerations potentially available through a minor variance application with the city. This is a rare opportunity to acquire a well-maintained multi-family asset with historical significance, strong rental fundamentals, and long-term value-add potential. Perfect for seasoned investors or those looking to add a unique income-generating property to their portfolio.