Description

Exceptional legal conforming duplex with commercial zoning (GC2) offering incredible value and strong numbers for investors or owner-occupiers!Featuring two well-maintained 2-bedroom units, this solid brick property showcases historic character including beautiful hardwood flooring and leaded glass windows. The lower unit features 2 bedrooms and an updated bathroom, currently rented at $1,300/month. The upper unit features 2 bedrooms, an updated kitchen, a modern bathroom, huge attic storage access, and two private balconies (estimated market rent of $1,500/month). Enjoy separate hydrometers and separate natural gas boilers (new in 2023) with tenants paying their own heat and hydro. Additional updates include a roof in 2013, vinyl windows (excluding leaded glass), owned hot water tanks, a fully fenced yard, and on-site gravel parking for 2 vehicles. Solid investment fundamentals ata $334,900 purchase price featuring $33,600 in gross annual rent, a Net Operating Income (NOI) of $26,610/year, a 7.94% cap rate, and a 9.97x Gross RentMultiplier (GRM). A turnkey addition to your portfolio in a great Sarnia location!

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