About This Property
Over 9% Caprate, Cashflow Positive, Duplex + Large Empty Lot Area Under-Going Severance to Separate to TWO Lots with Dimension 70x64 Feet and 45x70 Feet, with the Second Lot Having a Proposed Residential Dwelling, Huge Value! 2-Storey Large Home with Two 2 Bedroom, 1 Bathroom Units, Both Units Above Grade + Unfinished Basement Split in Half for Each Unit's Usage & Storage, All Utilities Are Separate, 2 Hydro Meters, 2 Water Meters, 2 Gas Meters. 2 Furnaces, 2 A/C Units, 2 Laundry Rooms, 2 100 Amp Electrical Panels, 2 Hot Water Tanks. Or You can Convert This into a Single Family Home with 4 Bedrooms & 2 Full Bathrooms for Your Large Family. Each Unit Has Their Own Un-Obstructed Driveway Entrance. Entire Property was Renovated with a City Permit in 2022, Almost Everything is New Including the Windows, Flooring, Stainless Steel Kitchen Appliances, Bathrooms, Shear Shades, Countertops, Doors, Baseboards, Drywall, Insulation, & More. The Basement Has Been Maintained and Structurally Fortified Over the Years. THREE Sources of Rental Income From Both Units + Directional Hospital Sign. Upper Unit is VACANT (Market Rent is $2,250 + Utilities), Ground Floor Unit is $2,250 + Utilities, and Hospital Pays $4,000/year for the Sign. Severing the Lot will Unlock $100k+ & More. Norfolk General Hospital is within Walking Steps. Also Within Walking Steps Include Elgin Avenue School, Food Basics, Giant Tiger, Simcoe Town Centre Shopping Mall, Trails, Parks & More. Don't Miss Out on this Ideal Duplex. A Solid & Amazing Investment to Add or Start with Your Portfolio. Living in One Unit & Renting the Other + Bonus From Selling Residential Severed Lot Would be Another Great Accelerated House-Hacking Idea. You Could Build the New Home on the Severed Lot Yourself! *Photos Have Been Virtually Staged by Removing Furniture, Clutter and/or Debris*
