!! Over $13,000 per year rental income from the legal basement suite !! With 10% down - the rental income will literally pay half of your mortgage - your mortgage payment would be $1026 TOTAL! Also...because it is a legal suite you can also use the income from it toward your mortgage qualifying income. REIN members take note -- A huge opportunity to own a large revenue property with immediate positive cash flow. This property offers multiple potential income streams - 2 complete, self contained units (basement suite is legal and registered with the city) just 2 blocks away from Quarry Park Shoping and the upcoming LRT line. The top unit is a 1514 sq ft 2 story with 3-bedrooms and 3-bathrooms. The main floor has 2 living rooms (1 for mom and dad and 1 for the kids to play), separate heating and laundry, a fenced back yard with dog run (and shed) and double attached (fully finished with workbench) garage. The legal basement suite features include: 695 square feet, 1 bedroom and 1 bathroom, huge kitchen, designated off street parking, separate heat and laundry with separate entrance and fenced backyard (with shed).These are both well maintained units in excellent condition. Pro formas with current rental incomes are available on request. The current Property Manager has a solid relationship with the tenants and is willing to continue managing the properties.
Data was last updated July 6, 2022 at 06:05 PM (UTC)
Area Statistics
Listings on market:
12
Avg list price:
$454,775
Min list price:
$275,000
Max list price:
$787,000
Avg days on market:
14
Min days on market:
6
Max days on market:
42
Avg price per sq.ft.:
$354.68
These statistics are generated based on the current listing's property type
and located in
Riverbend. Average values are
derived using median calculations.
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
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