Description
PREMIER REVENUE ASSET - 100% OR 50% EQUITY STAKE AVAILABLE - $120K GROSS/YR Investment Opportunity: Rarely does an asset of this caliber reach the market. Strategically positioned in the Yonge & Davis corridor of Newmarket, this detached residence is a turn-key, high-yield business producing around $10,000/month in gross rental income. Fully Renovated Detached Bungalow- Turnkey Investment opportunity! This beautifully upgraded home is a rare find offering 3 self-contained units with 3 separate entrances. Two basement units are in the process of legalization. ideal for investors or multi-generational families! Situated on a generous 60x121 ft lot, backing onto a Ravine. The property is tenanted and offers immediate cash flow with significant long-term land appreciation. The tenants can stay or go. The main level features 4 spacious bedrooms, a bright living room with large picture windows, and a stunning family room with skylight that fills the space with natural light. The basement offers 2 separate units, each with 2 bedrooms and private entrances- perfect for strong rental income. The Property has 8 Bedrooms + 3 Kitchens. Mature lot with in-ground pool and direct ravine access. Ideal for future "Missing Middle" development or a luxury custom rebuild. Flexible Acquisition Structures: The Seller is offering two distinct exit strategies to accommodate different investor profiles: 100% Fee Simple Acquisition: Full ownership of the land and income stream. 50% Partial Interest (Co-Ownership): Purchase a 50% equity stake in the property. Ideal for investors seeking a "Profit Share" arrangement. Terms of the Joint Venture/Co-ownership Agreement are available upon request. Financial Highlights: Annual Gross Income: $120,000 Pro-Forma Cap Rate: ~5.1%. Property located just minutes walk to Yonge Street, Davis Drive, and Upper Canada Mall, with easy access to transit, schools, parks, and shopping. This is more than a home
Location Description
Yonge & Davis
Property Details
- Community: Central Newmarket
- Property Type: Tenant/Residential Freehold
- Bedrooms: 8
- Bath: 4
- Garages: None
- Annual Property Taxes : $ 6206
Building Features
- Foundation Type: Concrete Block
- Counstruction Material : Stucco (Plaster)
- Total Parking Space : 4
- Parking Type : None
Features
- Heating : Forced AirGas
- Sewer : Sewer ,
Listing Contracted With: CENTRAL HOME REALTY INC.
