Property Information:

Affordable duplex investment opportunity in Owen Sound with built-in upside potential. Situated on a large in-town lot, this property features two spacious three-bedroom units, a walkout basement with future potential, and a detached barn/workshop building with MC zoning the possibilities are interesting. One unit was extensively renovated in 2022 with updated flooring, kitchen, bathroom, and finishes throughout, while the building's electrical system was also completely updated in 2022. This unit is currently rented at $1,600 per month inclusive.The other three-bedroom unit could be vacant on closing, providing an excellent opportunity for an investor to renovate and set market rent, or for an owner-occupier looking to offset living costs. The unit requires updating, including flooring, kitchen improvements, and some ceiling repairs.A unique feature of this property is the existing billboard lease generating approximately $800 per year in additional income. The detached barn/workshop offers additional storage or workspace but will require renovation and updating. The walkout basement adds another layer of potential for buyers looking to maximize the property's utility and long-term value.With strong income potential, a unit ready for improvement, billboard revenue, and multiple opportunities to add value, this property is well suited for investors, contractors, or buyers looking to build equity through renovations. (id:27)

Building Features:

Style: Multiplex
Building Type: Duplex
Basement Type: Full
Exterior Finish: Brick
Floor Space: 1500 - 2000 sqft
Foundation Type: Stone
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: None

Property Features:

Property Type: Multi-family
Bedrooms: 5
Bathrooms: 4
Features: Irregular lot size
Floor Space (approx): 1500 - 2000 Square Feet
Irregular: Yes
Lot Depth: 105 Feet
Lot Frontage: 67.2 Feet
Lot Size: 67.2 x 105 FT
Zoning: MC
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 4

Rooms:

Dining 2nd Level 3.79 m x 3.18 m
Kitchen 2nd Level 3.80 m x 3.33 m
Bedroom 2nd Level 3.03 m x 2.57 m
Bathroom 2nd Level 1.69 m x 1.38 m
Bedroom 2nd Level 3.49 m x 1.69 m
Bedroom 2nd Level 4.10 m x 2.84 m
Living 2nd Level 6.03 m x 2.58 m
Bathroom 2nd Level 2.63 m x 1.57 m
Bathroom Basement Level 2.17 m x 2.11 m
Family Basement Level 7.92 m x 4.38 m
Foyer Main Level 1.45 m x 1.20 m
Living Main Level 4.51 m x 2.99 m
Bathroom Main Level 3.85 m x 1.32 m
Kitchen Main Level 3.79 m x 3.60 m
Primary Bedroom Main Level 4.76 m x 3.60 m
Bedroom Main Level 3.94 m x 2.89 m

Convert Measurement to:

Courtesy of: Century 21 Millennium Inc.

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Demographic Information of 1700 3RD AVENUE E, Owen Sound, Ontario, N4K 2L9

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$88,264.06

Average Number of Children

1.73

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

23.39 %

High school certificate or equivalent

37.16 %

Apprenticeship trade certificate/diploma

7.68 %

College/non-university certificate

23.53 %

University Degree

8.24 %

Commuter

Travel To Work

By Car

85.09 %

By Public Transit

1.72 %

By Walking

9.88 %

By Bicycle

0.0 %

By Other Methods

3.31 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

29.27 %

Houses

70.73 %

1700 3RD AVENUE E, Owen Sound, Ontario, N4K 2L9