Exceptional legal conforming duplex with commercial zoning (GC2) offering incredible value and strong numbers for investors or owner-occupiers! Featuring two well-maintained 2-bedroom units, this solid brick property showcases historic character including beautiful hardwood flooring and leaded glass windows. The lower unit features 2 bedrooms and an updated bathroom, currently rented at $1,300/month. The upper unit features 2 bedrooms, an updated kitchen, a modern bathroom, huge attic storage access, and two private balconies (estimated market rent of $1,500/month). Enjoy separate hydro meters and separate natural gas boilers (new in 2023) with tenants paying their own heat and hydro. Additional updates include a roof in 2013, vinyl windows (excluding leaded glass), owned hot water tanks, a fully fenced yard, and on-site gravel parking for 2 vehicles. Solid investment fundamentals at a $335,000 purchase price featuring $33,600 in gross annual rent, a Net Operating Income (NOI) of $26,610/year, a 7.94% cap rate, and a 9.97x Gross Rent Multiplier (GRM). A turnkey addition to your portfolio in a great Sarnia location! (id:4069)
Address
132 VICTORIA STREET
List Price
$334,900
Property Type
Multi-family
Type of Dwelling
Duplex
Transaction Type
Sale
Area
Ontario
Sub-Area
Sarnia
Lot Size
X Sq. Ft.
Year Built
1900
MLS® Number
26025349
Listing Brokerage
RE/MAX Sarnia Realty Inc
Postal Code
N7T2T1
Zoning
GC2
Ownership
Freehold
Heat Source
Natural gas
Heat Type
Boiler
Cooling Features
Central air conditioning
Foundation Details
Block
Number Of Floors In Building
3
