$499,500
Bluewater
41 Main Street East, Bluewater (Zurich), Ontario, N0M2T0
This multi-family property in Bluewater is for sale offering roughly 7,385 sq ft of space. It has been on the market 104 days, fresher than the Bluewater average of 118 days.
That price is not a typo!!! INSANE INVESTMENT VALUE IN RURAL ONTARIO w/ THE ICONIC ZURICH, ON HOTEL PROPERTY | 3 LARGE APARTMENTS + COMMERCIAL RESTAURANT UNIT | MASSIVE LIST OF UPDATES BY CURRENT & PREVIOUS OWNERS | 7385 SQ FT + BASEMENT | NO HERITAGE RESTRICTIONS! Experience excellent exposure & convenience w/ 222' fronting Zurich's primary intersection at this epic corner site. The restaurant unit IS VACANT for someone looking to be an owner & also an operator at this value driven commercial site & 2 apartments ARE available for owner occupation as well! Just to name a few amenities, this well designed commercial restaurant space, historically licensed w/ the LCBO for 68 seats, comes w/ a full commercial kitchen, hood, bar area, walk-in cooler, & 2 proper washrooms w/ 2 stalls in each + 2 urinals. In addition to the bright & vibrant commercial unit, there are 3 generous residential apartments (see floorplan photos) providing a total of 9 bedrooms & 3 more washrooms plus laundry, & there is a boatload of storage space in between the units & also in the vast & bone dry basement. With .346 acres providing ample ON SITE parking & impressive yard space for your residential tenants, this one has it all, & the 2 upper level apartments were just vacated & are renovated for a new owner to move in tenants (or short term renters) of their choosing & maximize rental income. Notably, AirBnB/hotel style accommodations at the original Zurich Hotel may be a viable option! The large ground level apartment is currently bringing in $1500/month w/ extremely reliable & long-term tenants & the restaurant unit is vacant and available for immediate possession. Zoning allows for a variety of uses & the 6 Bedroom/2 Apartment vacancy provides a variety of options for a new owner. With potential gross income of $85k, this property could cap very nicely! Just a 15 min drive to Grand Bend or Exeter & barely 45 to London & 25 to Goderich, this hot spot by the lake is begging for a RE-INVENTION! (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 104 days on market, against an average age of 118 days across the listings currently for sale in this city
Homes here sell slower than most markets
Sold homes in this market spent an average of 72 days on the market over the past year, against a median of 48 days across the markets we publish.
This 9-bed multi-family in Bluewater (Zurich) has been listed for 104 days, which is 14 days fresher than the city average of 118. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $499,500, about 5.5× the local median household income of $91,000.
Carrying it typically needs a household income of about $97,570 (20% down, 25-yr amortization, stress-tested) — roughly 7% above the area median.
Source: Statistics Canada, 2021 Census (FSA N0M)
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Loading rates, 30-yr amortization
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