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STAN KHURANA
Sales Representative


Cell: 647-383-6000
Office: 905-883-1988
Fax: 905-883-8108

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CENTURY 21 ATRIA REALTY INC., BROKERAGE
Independently owned and operated.
C200-1550 Sixteenth Ave Bldg C Richmond Hill, ON L4B3K9


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$509,900
Available - For Sale
Listing ID: X13874990
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Price $509,900
Taxes: $3,919
Assessment Year: 2025
Occupancy by: Tenant
Address: 3-5 Mary Street North , Smiths Falls, K7A 3R6, Lanark
Directions/Cross Streets: Main St E & William St E
Rooms: 18
Bedrooms: 7
Bedrooms +: 0
Washrooms: 4
Family Room: F
Basement: Unfinished
  Level/Floor Room Length(ft) Width(ft) Descriptions
Room 1: Main Family Ro 0 0
Room 2: Main Dining Ro 0 0
Room 3: Main Kitchen 0 0
Room 4: Main Laundry 0 0 B/I Appliances
Room 5: Main Utility R 0 0
Room 6: Second Bedroom 0 0 3 Pc Ensuite
Room 7: Second Bedroom 2 0 0
Room 8: Second Bedroom 3 0 0
Room 9: Second Bedroom 4 0 0
Room 10: Second Bathroom 0 0 3 Pc Bath
Room 11: Main Family Ro 0 0
Room 12: Main Dining Ro 0 0
Room 13: Main Kitchen 0 0
Room 14: Main Utility R 0 0
Room 15: Second Bedroom 0 0
No. of Pieces Level
Washroom 1:  3 Second
Washroom 2:  3 Second
Washroom 3:  2 Second
Washroom 4:  2 Second
Washroom 5:  0
Washroom 6:  3 Second
Washroom 7:  3 Second
Washroom 8:  2 Second
Washroom 9:  2 Second
Washroom 10:  0
Property Type: Duplex
Style: 2-Storey
Exterior: Metal/Steel Sidi
Garage Type: None
Drive Parking Spaces: 4
Pool: None
Approximatly Square Footage: 2500-3000
CAC Included: N
Water Included: N
Cabel TV Included: N
Common Elements Included: N
Heat Included: N
Parking Included: N
Condo Tax Included: N
Building Insurance Included: N
Fireplace/Stove: N
Heat Type: Forced Air
Central Air Conditioning: Window Unit
Central Vac: N
Laundry Level: Syste
Ensuite Laundry: F
Elevator Lift: False
Sewers: Sewer
Utilities-Cable: N
Utilities-Hydro: A
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Asking Price: $ Heating: $ /Year  
Interest Rate: % Condo Fee: $ /Year
Taxes:   $ /Year Other Debt: $ /Year  
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First Mortgage $ $ $ $
CMHC/GE $ $ $ $
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Income Required $ $ $ $

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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
ROYAL LEPAGE PERFORMANCE REALTY

3-5 Mary Street North , Smiths Falls, K7A 3R6, Lanark

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Stan Khurana
Sales Representative
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6473836000
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905-883-1988

 
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At a Glance:
Type: Freehold - Duplex
Area: Lanark
Municipality: Smiths Falls
Neighbourhood: 901 - Smiths Falls
Style: 2-Storey
Lot Size: x 132.00(Feet)
Approximate Age:
Tax: $3,919
Maintenance Fee: $0
Beds: 7
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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