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$829,000
Est. payment /mo
5 Beds
3 Baths
700 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700 - 1100
Square Footage 700 sqft
Price per Sqft $1,184
Subdivision 3503 - Castle Heights
MLS® Listing ID X13050852
Style Raised bungalow
Bedrooms 5
Property Description
Well-maintained triplex on an oversized lot with over 84 ft of frontage, offering a rare opportunity to blend immediate cash flow, owner-occupancy potential, and long-term redevelopment upside. The property generates $48,192 annually with a net operating income of $31,582, featuring a spacious upper-level 3-bedroom unit ideal for an owner-occupant, complemented by two lower-level studio apartments to help offset carrying costs. Unit 1 and Unit 2 are currently on month-to-month leases, while Unit 3 is leased until July 31, 2026. This property has been meticulously maintained by long-term ownership, with clear pride of care throughout and very little deferred maintenance, allowing a new owner to step in and operate with confidence and minimal immediate capital requirements. Major capital improvements include a new roof (2014), driveway expansion and repaving, landscaping and regrading, masonry repairs, and a PVC privacy fence. For investors, this is a balanced asset with solid in-place income and clear upside. For end users, it presents a unique opportunity to live in a larger unit while generating meaningful rental income. The 84 ft frontage further enhances the property with strong future potential for redevelopment, severance, or expansion, making this a versatile acquisition in a market where opportunities like this are increasingly rare. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Radiant heat,
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Building
Story 1
Sewer Sanitary sewer
Architectural Style Raised bungalow
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Listed by SLEEPWELL REALTY GROUP LTD
NEARBY SCHOOL & BUSINESS
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