3-5 MARY STREET N,Smiths Falls,Ontario,K7A3R6
For sale
$509,900
3-5 MARY STREET N,Smiths Falls,Ontario,K7A3R6
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. (id:63658)
PROPERTY SUMMARY
| MLS® # | : | X13874990 |
| Listing price | : | $509,900 |
| Listed on | : | 15-10-2026 |
| Property subtype | : | For sale |
| Square footage | : | 2500 sqft |
| Year built | : | 0000 |
| Listing office | : | ROYAL LEPAGE PERFORMANCE REALTY |
BEDROOM & BATHROOM
| Total bedrooms | : | 7 Bedrooms |
| Total bathrooms | : | 4 Bathrooms |
BUILDING
| Building type | : | |
| Parking | : | No Garage |