$549,000

For sale

1082 8th Street East, Owen Sound - Multi-family for Sale

1082 8th Street East, Owen Sound, Ontario, N4K1M6

5 beds3 baths11 parking1,750 ft²67 × 124 ft (8,257 sq ft) lot sizeListed 25 days ago

Overview

This multi-family property in Owen Sound is for sale offering roughly 1,750 sq ft of space. It has been on the market 25 days, fresher than the Owen Sound average of 91 days.

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Description

LIVE, INVEST, OR RUN YOUR BUSINESS! Exceptional opportunity to own a versatile brick bungalow duplex on a large lot with 66 ft. frontage on 8th Street East. Previously used as a doctor's office, this property is zoned for neighbourhood commercial/residential use, offering a variety of potential business opportunities. The front unit features 3 bedrooms, 1.5 baths, a finished basement, hardwood floors, laundry, carport, and parking for 2. The separate rear unit offers 2 bedrooms, a 4-piece bath, and its own laundry. Unique advantages include separate entrances, separate parking areas, two hydro meters, economical gas heating, and air conditioning. High-traffic location within walking distance of the hospital, schools, college, and downtown. Live in one unit and operate your business from the other, enjoy rental income potential, or explore converting the property into one commercial space. Two entrances and paved parking for up to 10 vehicles add to the versatility. A rare opportunity for residential investors, entrepreneurs, and owner-operators seeking a property with multiple possibilities! (id:66096)

Property Details

MLS®: X13884510
Property Type: Multi-family
Zoning: C3-8
Bedrooms: 5
Beds (above / below): 5 above · 0 below
Bathrooms: 3
Half Baths: 1
Parking: 11
Interior Size: 1,750 ft²
Lot Size: 67 × 124 ft (8,257 sq ft)
Frontage: 67 ft
Storeys: 1
Style: Bungalow
Basement: Finished, Full
Heating: Forced air, Natural gas
Cooling: Central air conditioning
Garage: Garage, Carport
Property Tax

Features

Appliances: Washer, Dryer, Two stoves, Two Refrigerators
Foundation: Block, Poured Concrete
Exterior: Brick, Stone
Lot Features: Level lot

Services

Water: Municipal water
Sewer: Sanitary sewer
Utilities: Sewer, Electricity, Cable

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

25d

Owen Sound listings, avg age

91d

Price / ft²

$314

List price

$549K

Haho

This 5-bed multi-family in Owen Sound has been listed for 25 days, which is 66 days fresher than the city average of 91. Act while there is still low competition.

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Listed by Ron Hopper Real Estate Ltd. · BILL TURNER

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (N4K)

This home lists at $549,000, about 7.9× the local median household income of $69,500.

Carrying it typically needs a household income of about $107,239 (20% down, 25-yr amortization, stress-tested) — roughly 54% above the area median.

Median household income: $69,500
Population: 28,975
Median age: 49.2
Owner / renter: 66% / 34%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA N4K)

$549,000· $314/ft²

For sale

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Full Cost Breakdown

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Down Payment5.45% · $29,900.00

Min 5.45%50%

Mortgage payment$2,878/mo

↳ CMHC premium ($20,764 capitalized)

Property tax (est.)$460/mo

Total monthly$3,338

Cash Needed to Close

Down payment (5.45%)$29,900

Land transfer tax$7,455

Est. closing costs$4,147

Total cash needed$41,502

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