Space
Finished area and layout
- Square Feet
- 2,500-3,000 sqft
- Bedrooms
- 7
- Bathrooms
- 4
+45 more
7
Bedrooms
4
Bathrooms
2,500-3,000 sqft
Square Feet
9,031 sqft
Lot
6
Parking
Property Snapshot
Key details for this listing
MLS #X13874990
Property
Type, style and structure
- Type
- residential
- Style
- duplex / Duplex
- Structure
- 2-Storey
- Ownership
About This Property
This 7-bedroom, 4-bathroom duplex in Smiths Falls offers 2,500-3,000 sqft of square feet on a 9,031 sqft lot. 2 storeys. The property has lot dimensions of 66 x 132 FT, zoned R3. The home features window unit(s), a unfinished basement. Highlights include a none pool.
MLS Remarks
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:60351)
Documents & Attachments
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