$849,000

Hanover ON, N4N 2J7

MLS® # X12298874

Property Information:

Amazing investment opportunity. A fully-renovated triplex, offering a total of 3 units, each with 2 bedrooms and 1 bathroom, spanning 2200 SQFT. This property is not only occupied at market rents per unit but also comes with approved site plans to add 3 more units, doubling the income potential. Additional features include separate meters for each unit, fully renovated with new windows in the existing triplex. Building plans, permits, and a detailed proforma are readily available. This is a prime investment opportunity for both new and seasoned investors, with all the groundwork already laid out. 2021 narrative appraisal completed for potential 3 unit addition available upon request. (id:27)

Building Features:

Style: Triplex
Building Type: Triplex
Air Conditioning: Yes
Amenities: Separate Heating Controls, Separate Hydro Meters
Basement Development: Unfinished
Basement Type: N/A
Exterior Finish: Brick
Fireplace Type: Insert
Floor Space: 2000 - 2500 sqft
Foundation Type: Concrete
Heating Type: Radiant heat
Heating Fuel: Natural gas
Cooling Type: Wall unit
Appliances: Water meter

Property Features:

Property Type: Multi-family
Bedrooms: 6
Bathrooms: 3
Floor Space (approx): 2000 - 2500 Square Feet
Irregular: Yes
Lot Depth: 153.2 Feet
Lot Frontage: 66.0 Feet
Lot Size: 66 x 153.2 FT
Zoning: R1A11
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 8

Courtesy of: Trilliumwest Real Estate Brokerage Ltd

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⚠ Potential Investment Performance

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Market Price Trends

Location of 552 7TH AVENUE, Hanover, Ontario, N4N 2J7

Lifestyle
Neighbourhood

Demographic Information of 552 7TH AVENUE, Hanover, Ontario, N4N 2J7

Life Stage

Later Years

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$93,680.84

Average Number of Children

1.84

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

26.5 %

High school certificate or equivalent

34.55 %

Apprenticeship trade certificate/diploma

9.03 %

College/non-university certificate

23.3 %

University certificate (below bachelor)

1.03 %

University Degree

5.59 %

Commuter

Travel To Work

By Car

85.38 %

By Public Transit

0.0 %

By Walking

13.18 %

By Bicycle

0.0 %

By Other Methods

1.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

40.3 %

Houses

59.7 %

Own Vs. Rent