Space
Finished area and layout
- Square Feet
- 1,500-2,000 sqft
- Bedrooms
- 8
- Bathrooms
- 4
+18 more
8
Bedrooms
4
Bathrooms
1,500-2,000 sqft
Square Feet
7,264 sqft
Lot
4
Parking
Property Snapshot
Key details for this listing
MLS #N13497606
Property
Type, style and structure
- Type
- residential
- Style
- detached / Detached
- Structure
- Bungalow
- Ownership
About This Property
This 8-bedroom, 4-bathroom detached in Newmarket offers 1,500-2,000 sqft of square feet on a 7,264 sqft lot. 1 storey. The property has lot dimensions of 60 x 121 FT. The home features central air, a apartment basement, a fireplace. Highlights include a inground pool.
MLS Remarks
THE ULTIMATE WEALTH-GENERATING ASSET IN CENTRAL NEWMARKET100% FULL VACANT POSSESSION ON CLOSINGWelcome to a premium house and a great asset in Newmarket's prime Yonge & Davis corridor. The property generates about $90,000 rental income annually. Whether you are an institutional investor adding a high-yield vehicle to your portfolio, or a smart homeowner looking to completely eliminate your housing costs via "house-hacking," this property stands entirely in a league of its own.THE LAND VALUE: Sprawling across an oversized, mature 60 ft x 121 ft premium lot, the property backs onto a tranquil ravine. Real estate is about location and land-and a 60-foot ravine lot in the heart of York Region offers massive future appreciation and development protection.THE CONFIGURATION:Main Level: Bright, spacious, updated 4-bedroom layout featuring principal rooms and large windows with the views of the ravine.Lower Level: Two separate, fully self-contained rental suites. Bright, comfortable, and designed to minimize turnover.THE FINANCIAL METRICS: Currently operating at a gross annual yield of approx. $90,000 across three tenancies. For an end-user, this income is large enough to offset your mortgage qualifications, effectively allowing you to occupy a premium detached ravine home in Newmarket completely free while your tenants pay down your principal.THE LOCATION: Unbeatable transit and commercial footprint. Walk to Upper Canada Mall, immediate access to the Yonge St & Davis Dr transit corridors, minutes to the Newmarket GO Station, Southlake Health Centre, major stores, plazas, supermarkets and top-tier neighborhood schools.CHOOSE YOUR CLOSING: The seller offers ultimate contractual flexibility to suit your profile. Retain the outstanding, low-maintenance good tenants for an uninterrupted stream of revenue from day one, OR receive contractually guaranteed 100% full vacant possession on closing to choose your own market rents or move your extended family right in. (id:60351)
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