Description
Freshly painted bungalow in a prime location, within walking distance to the Baseline bus stop, offering unbeatable convenience! Ideal for first-time buyers or investors, this property presents a fantastic opportunity to own a dual-income home with strong cash flow potential. Featuring two separate units: the upper unit offers 3 bedrooms, a renovated kitchen with NEW stove (2024), and a full bathroom with NEW washer/dryer (2024); the fully finished basement unit includes 2 bedrooms with egress windows (installed 2021), a modern NEW kitchen (2024), full bathroom, separate laundry, storage space, and an independent electric sub-panel (2024). Additional upgrades include a NEW hydro meter (2024) and separate entrances, including a convenient side entrance under the carport. Property includes 2 washers, 2 dryers, 2 stoves, 2 hood fans, and 1 microwave. Both units are currently rented-upstairs at $2,150/month and basement at $1,600/month (utilities extra), generating $3,750/month ($45,000 annually) in gross income. With estimated expenses including property taxes ($4,600), insurance ($1,200), maintenance ($2,400), and a 5% vacancy allowance, the property delivers an approximate net operating income of $34,550 and a cap rate of ~5.3% at the asking price of $650,000, making it a solid and stable income-generating investment. Vacant possession available with proper notice-don't miss this incredible opportunity!
Location Description
Baseline/Cobden
Property Details
- Community: 6303 - Queensway Terrace South/Ridgeview
- Property Type: Tenant/Residential Freehold
- Bedrooms: 5
- Bath: 2
- Garages: Carport
- Annual Property Taxes : $ 4513.32
Building Features
- Foundation Type: Block
- Counstruction Material : Concrete
- Total Parking Space : 4
- Parking Type : Carport
Features
- Heating : Forced AirGas
- Sewer : Other ,
Listing Contracted With: RIGHT AT HOME REALTY
