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$ 509,900
Est. payment | /mo
7 Beds
4 Baths
$ 509,900
Est. payment | /mo
7 Beds
4 Baths
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Subdivision 901 - Smiths Falls
MLS® Listing ID X13874990
Bedrooms 7
Half Baths 2
Property Description
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Window air conditioner
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by ROYAL LEPAGE PERFORMANCE REALTY
NEARBY LOCATIONS
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Kim Avery
Agent
67 Valley Ridge Green NW. Calgary, AB. T3B 5L5, Calgary, Alberta T3B 5L5, CAN