$509,900
Available - For Sale
Listing ID: X13874990
3-5 Mary Street North , Smiths Falls, K7A 3R6, Lanark
| 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: | $3919.00 |
| Assessment Year: | 2025 |
| Occupancy: | 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 |
| Family Room: | F |
| Basement: | Unfinished |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Main | Family Ro | |||
| Room 2 | Main | Dining Ro | |||
| Room 3 | Main | Kitchen | |||
| Room 4 | Main | Laundry | B/I Appliances | ||
| Room 5 | Main | Utility R | |||
| Room 6 | Second | Bedroom | 3 Pc Ensuite | ||
| Room 7 | Second | Bedroom 2 | |||
| Room 8 | Second | Bedroom 3 | |||
| Room 9 | Second | Bedroom 4 | |||
| Room 10 | Second | Bathroom | 3 Pc Bath | ||
| Room 11 | Main | Family Ro | |||
| Room 12 | Main | Dining Ro | |||
| Room 13 | Main | Kitchen | |||
| Room 14 | Main | Utility R | |||
| Room 15 | Second | Bedroom |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Second |
| Washroom Type 2 | 3 | Second |
| Washroom Type 3 | 2 | Second |
| Washroom Type 4 | 2 | Second |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | Second |
| Washroom Type 7 | 3 | Second |
| Washroom Type 8 | 2 | Second |
| Washroom Type 9 | 2 | Second |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| 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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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| ROYAL LEPAGE PERFORMANCE REALTY |
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|
Saleem Akhtar
Sales Representative
Dir:
647-965-2957
Bus:
416-496-9220
Fax:
416-496-2144
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Duplex |
| Area: | Lanark |
| Municipality: | Smiths Falls |
| Neighbourhood: | 901 - Smiths Falls |
| Style: | 2-Storey |
| Tax: | $3,919 |
| Beds: | 7 |
| Baths: | 4 |
| Fireplace: | N |
| Pool: | None |
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