Property Description
Completely turnkey investment property in Heron Park. Meticulously maintained property and building with three rental units including many upgrades and virtually no vacancies in 28 years of ownership. This legal Triplex has two 2-bedroom units on the first and second floors with a third 1+1-bedroom basement suite. The great location and neighbourhood makes this attractive to renters and there has rarely been a vacancy in 28 years.
Each apartment boasts 200 amp service, separately metered, with tenants paying their own hydro.
The pride of ownership shows in the many quality upgrades and meticulous maintenance, making this a fantastic investment opportunity. Notable features and upgrades include:New roof, fascia, eaves and downspouts, covered side entrances with new vinyl, R-60 attic insulation, enlarged basement windows, new windows, new front door, new front porch, LED lighting.
The interior features ceramic and hardwood floors, newer appliances, recently renovated bathrooms and kitchen exhaust fans.
The well-built building sits on a poured concrete foundation on a deep lot of 103 feet with ample parking for all three units. Well landscaped with large shade trees in the front and back yards for tenant enjoyment.
The main floor unit is currently rented for $1,100 and the basement suite is rented for $750 (plus a flat fee for hydro), with excellent tenants in both units. The top floor will be vacant on closing and would re-rent for $1,300 per month. Pay-per-use laundry revenue averages $145 per month.
Operating expenses (property taxes, insurance, common-area hydro, water and hot water tank rental) are $775 per month.
Located within walking distance to many transportation options; the O-Train, Bank St, Carleton U, Billings Bridge and the Blue Heron Mall. Quiet neighbourhood is undergoing renewal. Deep lot at 103 feet.
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RE/MAX Hallmark Pilon Group Realty
www.PilonGroup.com
Email: Info@PilonGroup.com
Direct: 613.909.8100
Property Features
Parks nearby, Public Transit Nearby, Schools Nearby, Shopping Nearby
