Affordable duplex investment opportunity in Owen Sound with built-in upside potential. Situated on a large in-town lot, this property features two spacious three-bedroom units, a walkout basement with future potential, and a detached barn/workshop building with MC zoning the possibilities are interesting. One unit was extensively renovated in 2022 with updated flooring, kitchen, bathroom, and finishes throughout, while the building's electrical system was also completely updated in 2022. This unit is currently rented at $1,600 per month inclusive.The other three-bedroom unit could be vacant on closing, providing an excellent opportunity for an investor to renovate and set market rent, or for an owner-occupier looking to offset living costs. The unit requires updating, including flooring, kitchen improvements, and some ceiling repairs.A unique feature of this property is the existing billboard lease generating approximately $800 per year in additional income. The detached barn/workshop offers additional storage or workspace but will require renovation and updating. The walkout basement adds another layer of potential for buyers looking to maximize the property's utility and long-term value.With strong income potential, a unit ready for improvement, billboard revenue, and multiple opportunities to add value, this property is well suited for investors, contractors, or buyers looking to build equity through renovations. (id:4069)
Address
1700 3RD AVENUE E
List Price
$350,000
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Ontario
Sub-Area
Owen Sound
Bedrooms
5
Bathrooms
4
Floor Area
1500 - 2000 Sq. Ft.
Lot Size
67.2 x 105 FT Sq. Ft.
Lot Depth
105 ft
Frontage Length
67 ft ,2 in
MLS® Number
X13452260
Listing Brokerage
Century 21 Millennium Inc.
Basement Area
Full
Postal Code
N4K2L9
Zoning
MC
Parking Places (Total)
4
Features
Irregular lot size
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
None
Foundation Details
Stone
Number Of Floors In Building
2
Water Source
Municipal water
Sewer
Sanitary sewer
