Description

Rarely does a real estate investment property of this caliber become available. 3 Claremont Drive is an exquisitely designed, concrete and steel -constructed three-story building, masterfully built with no expense spared. The property features a dental office on the main floor and four spacious two-bedroom apartments on the second and third floors. Each apartment offers an identical layout of approximately 1,180 square feet and is finished with high-quality materials, including hardwood floors, ceramic tiling, and premium fixtures. Amenities include six appliances (with ensuite laundry), gas fireplaces, central air conditioning, intercom systems, and large balconies. The building provides six underground parking spaces and three tandem surface spaces at grade. The property maintains zero vacancy; the dental practice is on a long-term triple net lease, while residential tenants pay their own heat and hydro. There is significant upside potential for residential rental income. Given the new zoning overlay and the integrity of the pre-engineered concrete and steel superstructure, there may be an opportunity to add additional floors for further rental suites in the future. The current Net Operating Income (NOI) exceeds $156,000, with a clear path to increase this to over $180,000 upon turnover. There is a recent Building Inspection Report, and Appraisal on hand to be shared with qualified prospective buyers. All enquiries welcome.

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