22 Dollard Street Russell, Ontario K0A 1W0

$795,000

Discover this impeccably designed legal duplex in Embrun offering exceptional value and strong rental income. The upper-level flagship unit is a beautifully renovated 3-bedroom home. Thoughtfully updated with care and attention to detail, this unit stands out as one of the premier rentals in Embrun. The newly constructed lower-level apartment is equally impressive -- a bright and modern 3-bedroom unit. Together, both units are rented (no vacancy) to generate a robust monthly income of $4,200, translating to over $50,000 annually. Heat/Hydro is separately metered so as the new property owner, you pay only water. The extra-large 1/3rd acre property lends well to future development -- extensions, outbuildings, carriage homes, and more! This is an excellent land parcel to take advantage of the More Homes Built Faster Act, 2022 (also known as Bill 23) as part of Ontarios goal of building 1.5-million new homes in under 10 years. Annual Income $50,415. Annual Expenses: Water $1,550, Insurance $1,673, Tax $3,570 = Total $6,793. Net Income $43,622. Cash flow before finance $3,635 per month. On reasonable financing terms the monthly cashflow is $800+ per month. This investment opportunity is hard to beat. If long-term growth is 4-5% per year, this duplex could be worth $1.43-1.65 million in 15 years, and $2.58-3.44 million in 30 years when paid in full. Cashflow in the interim should greatly exceed $500,000. This equates to a potential return of $3-4 million from todays $159-238k downpayment. Consider adding 22 Dollard Street in Embrun as a flagship property and long-term staple to your portfolio. Note: Financials discussed in the video are outdated; please refer the the updated numbers listed here. Photos taken prior to current tenancies. (id:49712)

Property Details

MLS® Number	X12146215
Property Type	Multi-family
Community Name	602 - Embrun
Features	Carpet Free
Parking Space Total	6
Structure	Shed

Building

Bathroom Total	2
Bedrooms Above Ground	3
Bedrooms Below Ground	3
Bedrooms Total	6
Amenities	Separate Electricity Meters
Appliances	Dishwasher, Dryer, Hood Fan, Two Stoves, Washer, Two Refrigerators
Architectural Style	Raised Bungalow
Basement Features	Apartment In Basement
Basement Type	N/a
Cooling Type	Wall Unit
Exterior Finish	Brick
Foundation Type	Block
Heating Fuel	Electric
Heating Type	Radiant Heat
Stories Total	1
Size Interior	1,100 - 1,500 Ft2
Type	Duplex
Utility Water	Municipal Water

Parking

Carport
Garage

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	195 Ft
Size Frontage	77 Ft ,10 In
Size Irregular	77.9 X 195 Ft
Size Total Text	77.9 X 195 Ft

Rooms

Level	Type	Length	Width	Dimensions
Basement	Kitchen	3.34 m	2.64 m	3.34 m x 2.64 m
Basement	Dining Room	3.56 m	2.95 m	3.56 m x 2.95 m
Basement	Living Room	3.56 m	2.99 m	3.56 m x 2.99 m
Basement	Bedroom	4.27 m	3.69 m	4.27 m x 3.69 m

https://www.realtor.ca/real-estate/28307980/22-dollard-street-russell-602-embrun