Description

 Price: $ 375,000.00 MLS^®: X13452260         Location : 1700 3rd Avenue E, Owen Sound, ON N4K 2L9

Affordable duplex investment opportunity in Owen Sound with built-in upside potential. Situated on a large in-town lot, this property features two spacious three-bedroom units, a walkout basement with future potential, and a detached barn/workshop building.One unit was extensively renovated in 2022 with updated flooring, kitchen, bathroom, and finishes throughout, while the building's electrical system was also completely updated in 2022. This unit is currently rented at $1,600 per month inclusive.The other three-bedroom unit could be vacant on closing, providing an excellent opportunity for an investor to renovate and set market rent, or for an owner-occupier looking to offset living costs. The unit requires updating, including flooring, kitchen improvements, and some ceiling repairs.A unique feature of this property is the existing billboard lease generating approximately $800 per year in additional income. The detached barn/workshop offers additional storage or workspace but will require renovation and updating. The walkout basement adds another layer of potential for buyers looking to maximize the property's utility and long-term value.With strong income potential, a unit ready for improvement, billboard revenue, and multiple opportunities to add value, this property is well suited for investors, contractors, or buyers looking to build equity through renovations.

Location Description

3rd Ave E & 17th St E

Property Details

• Community: Owen Sound
• Property Type: Owner+Tenant/Residential Freehold
• Bedrooms: 5
• Bath: 4
• Garages: None

Building Features

• Foundation Type: Stone
• Construction Material: Brick
• Total Parking Space: 4

Features

• Heating: Forced Air Gas
• Sewer: Sewer ,