$549,900
Arran-Elderslie
20 & 22 2nd Street Southeast, Arran-Elderslie, Ontario, N0G1L0
This multi-family property in Arran-Elderslie is for sale offering roughly 4,250 sq ft of space. It has been on the market 25 days, fresher than the Arran-Elderslie average of 94 days.
Unique Triplex Investment Opportunity in Chesley! Offering over 3,600 square feet of residential living space, this property features two one-bedroom apartments on the main floor and a spacious four-bedroom apartment occupying the entire second floor. The four-bedroom unit offers approximately 1,824 square feet, including a large kitchen, hardwood flooring in several rooms and a natural gas boiler installed in 2022. Previously owner-occupied, this apartment is now vacant, offering an opportunity to live in one unit while the other two help pay your mortgage, or rent all three units for additional income. The two one-bedroom apartments are occupied by long-term tenants, currently generating approximately $20,760 annually in gross rental income. With an estimated rental potential of $1,800 per month plus utilities for the vacant four-bedroom apartment, the property could generate approximately $42,360 in annual gross residential rental income. Each apartment has its own laundry facilities, and the building has benefited from numerous updates over the years. Adding to the property's possibilities is a massive attached former creamery offering multiple levels of garage, workshop and storage space, with potential for additional rental income. The property also features an attached carport, additional parking and a treed backyard overlooking the Saugeen River. An interesting opportunity for investors or buyers looking to offset their mortgage with rental income. (id:66096)
Features and services as supplied by the listing brokerage.
Extended: 25 days on market, against an average age of 94 days across the listings currently for sale in this city
This 6-bed multi-family in Arran-Elderslie has been listed for 25 days, which is 69 days fresher than the city average of 94. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $549,900, about 6.6× the local median household income of $83,000.
Carrying it typically needs a household income of about $107,415 (20% down, 25-yr amortization, stress-tested) — roughly 29% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0G)
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