$1,490,000
Est. payment $6,597/moCalculate yours
397 Empire Avenue, Thunder Bay, ON P7E 4S3
Westfort, Thunder Bay, ON P7E 4S3
- 4,824 Sq Ft
Listing courtesy of ROYAL LEPAGE LANNON REALTY MLS® X13250594
About this home
PREMIER INVESTMENT OPPORTUNITY: BRAND NEW, FULLY RENTED 4-PLEX! Secure your future with this turn-key investment property-a stunning, newly constructed 4-plex in a quiet, highly desirable pocket of Westfort. This property is built to attract and retain quality tenants, boasting superior construction including an ICF basement for unmatched efficiency. Each of the four currently rented units offers 2 bedrooms, premium features like granite countertops, open-concept living, in-suite laundry, individual heating systems, hot water on demand, and separate entrances and driveways. Its prime location offers residents walkable access to bus routes, schools, parks, and Westfort Village amenities. With all four units currently rented, this is a rare chance to acquire a fully stabilized income property providing immediate, stable cash flow. Don’t miss out on this low-risk, high-return asset; contact agent for the full investment package.(PICTURES ARE BEFORE TENANTED - All units have the same quality with different finishings for both 397 and 401 Empire) (Adjacent 4plex also for sale) Apt A - $2250; Apt B - $2250; Apt C - $2150. Apt D - $2250 - All rents plus Heat and Hydro.
Property details
Overview
- Property Type
- Multiplex
- For
- For Sale
- Status
- New
- Approximate Age
- 0-5
- Size
- 4,824 sqft
Interior
- Basement
- Full
Building & Systems
- Heating
- Other (Gas)
- Cooling
- Other
- Exterior
- Vinyl Siding, Aluminum Siding, Other
- Foundation
- Other
- Roof
- Asphalt Rolled
- Water
- Municipal
- Sewer
- Sewer
Lot & Parking
- Lot Size
- 62.27 x 119.95 Feet
- Parking
- None garage
- Zoning
- Urban Mid-Rise Zone
Financial
- Property Taxes
- $9,857 (2025)
Location
- Neighbourhood
- Westfort
- Cross Street
- Corner of Sprague and Empire
- Direction Faces
- North
Listing
- MLS® Number
- X13250594
- Days on Market
- 144
- Listed On
- 2026-05-27
- Possession
- Anytime
- Listed By
- ROYAL LEPAGE LANNON REALTY
Features
Interior
- Other
Pool
- None
- Included
- 4 fridges, 4 stoves, 4 washers, 4 dryers, 4 dishwashers, all light fixtures.
- Excluded
- Tenants belongings
- Rental items
- None
Mortgage calculator
Estimated mortgage payment
$6,597 per month
- Principal and interest
- $6,597
- Property tax
- $821
- Condo fees
- $0
- Estimated monthly cost
- $7,419
Your mortgage
- Mortgage amount
- $1,192,000
- Mortgage insurance
- Not needed
- Interest over 25 years
- $787,219
Cash to close
- Down payment
- $298,000
- Land transfer tax
- $26,275
- First-time buyer refund
- $0
- Sales tax on insurance (8%)
- $0
- Total, before legal fees
- $324,275
With less than 20% down, a 30-year amortization is available to first-time buyers and buyers of newly built homes.
Talk to me about financingEstimates only, not a mortgage offer or financial advice. Uses the Canadian fixed-rate convention (interest compounded twice a year), 2026 mortgage insurance premiums and Ontario land transfer tax. Your lender will confirm your actual rate and payment.
Location
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