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:49712)
| MLS® Number | X13874990 |
| Property Type | Multi-family |
| Community Name | 901 - Smiths Falls |
| Equipment Type | Water Heater |
| Features | Irregular Lot Size |
| Parking Space Total | 6 |
| Rental Equipment Type | Water Heater |
| Bathroom Total | 4 |
| Bedrooms Above Ground | 7 |
| Bedrooms Total | 7 |
| Appliances | Dryer, Two Stoves, Two Washers, Two Refrigerators |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Cooling Type | Window Air Conditioner |
| Exterior Finish | Steel |
| Foundation Type | Stone |
| Half Bath Total | 2 |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Sqft |
| Type | Duplex |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 132 Ft |
| Size Frontage | 66 Ft |
| Size Irregular | 66 X 132 Ft |
| Size Total Text | 66 X 132 Ft |
| Zoning Description | R3 |
| Electricity | Available |
| Sewer | Available |
https://www.realtor.ca/real-estate/30379238/3-5-mary-street-n-smiths-falls-901-smiths-falls
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