$467,000
Lanark Highlands
96 South Street, Lanark Highlands, Ontario, K7H0A2
This multi-family property in Lanark Highlands is for sale offering roughly 1,750 sq ft of space. It has been on the market 15 days, fresher than the Lanark Highlands average of 106 days.
Historic Charm Meets Modern Opportunity in Lanark Village Discover a unique investment or lifestyle opportunity in the heart of Lanark Village! This recently renovated duplex beautifully blends historic character with modern updates, offering versatility for investors, owner-occupants, or entrepreneurs looking to make the most of a distinctive property. The building features two separate units: a one-bedroom, one-bathroom unit on the ground floor and a spacious two-bedroom, one-and-a-half-bathroom unit on the upper 2 floors. Each unit has its own meter and heating/ventilating/air conditioning system, providing added independence and convenience. The potential to develop a third unit offers a variety of exciting possibilities for future expansion and increased income potential subject to municipal approval. Zoning also permits business use in one unit, provided the owner occupies the other, creating an excellent opportunity for a live-work arrangement. Whether you're looking to live in one unit while renting out the other, expand your investment portfolio, establish a home-based business, or explore the potential for a third unit, this property offers plenty of options to suit your vision. Heating features include in-floor radiant heating on the main floor and forced-air propane heating in the second unit. Upgraded plumbing, electrical and septic. A rare combination of historic charm, modern comfort, and future potential, all in the welcoming community of Lanark Village. Don't miss your opportunity to make this versatile property your own! (id:66096)
Features and services as supplied by the listing brokerage.
Active: 15 days on market, against an average age of 106 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 60 days on the market over the past year, against a median of 48 days across the markets we publish.
Homes here sell below asking price
Homes in this market sold for an average of 94.4 percent of their asking price over the past year, below the 96.4 percent median across the markets we publish.
This 3-bed multi-family in Lanark Highlands has been listed for 15 days, which is 91 days fresher than the city average of 106. Act while there is still low competition.
Approximate location — exact address confirmed upon showing
This home lists at $467,000, about 5.7× the local median household income of $82,000.
Carrying it typically needs a household income of about $91,221 (20% down, 25-yr amortization, stress-tested) — roughly 11% above the area median.
Source: Statistics Canada, 2021 Census (FSA K7H)
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Loading rates, 30-yr amortization
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Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.
