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705 3rd Avenue Owen Sound, Ontario N4K 2K4

5 Bedroom 4 Bathroom 2983
None Forced Air

$697,900

An Investors Dream! Welcome to 705 3rd Avenue E, this beautiful victorian style home is nestled in the heart of Owen Sound walking distance to downtown, the market, trails and all other amenities! This home features 4 separate units: 3x 1 Bedroom units (one of the bedrooms is non conforming) and 1x 2 Bedroom unit. The main floor unit is a very spacious unit with the possibility of converting a storage room into a second bedroom. The second level offers 2 spacious 1 bedroom units with separate entrances to each unit. The attic you will find a renovated 2 bedroom unit with a separate entrance and a brand new galvanized steel fire escape ($35k). Currently the 3x 1 Bedroom units have amazing long term month to month tenants who pay ON TIME each and every month! ($1260, $1113, $961). The 1x 2 Bedroom unit is run as one of the few AirBnB units in Owen Sound with an average monthly income of $3487. All 4 units combined gross $81,676 annually, NOI of $64,765 and a cap rate of 9.3%. Currently the units are separated into 3 meters with 2 additional meter boxes waiting to be connected. Outside you will find a spacious deck and a triple wide driveway for parking. Don't miss your chance to add this amazing high income earning property to your portfolio!! Furnace (2020) (id:39551)

Property Details

MLS® Number 40340564
Property Type Multi-family
Amenities Near By Hospital, Park
Equipment Type Water Heater
Features Park/reserve
Parking Space Total 3
Rental Equipment Type Water Heater
Structure Porch

Building

Bathroom Total 4
Bedrooms Total 5
Appliances Sauna
Basement Development Unfinished
Basement Type Partial (unfinished)
Construction Material Wood Frame
Construction Style Attachment Detached
Cooling Type None
Exterior Finish Brick, Vinyl Siding, Wood
Fire Protection None
Fireplace Present No
Foundation Type Brick
Heating Fuel Electric, Natural Gas
Heating Type Forced Air
Stories Total 3
Size Interior 2983
Type Triplex
Utility Water Municipal Water

Land

Acreage No
Land Amenities Hospital, Park
Sewer Municipal Sewage System
Size Depth 110 Ft
Size Frontage 47 Ft
Size Total Text Under 1/2 Acre
Zoning Description R4

https://www.realtor.ca/real-estate/25001207/705-3rd-avenue-owen-sound

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