$695,000

139 Ontario Street S

Grand Bend ON, N0M 1T0

Description

Quality investment property in Grand Bend: multi-family/multi-unit with two rock solid 3 bedroom apartments & an ideal storefront commercial unit plus room to grow into the full height basement! It's been quite a while since we had a real estate offering like this in Grand Bend, a well-kept building that would be an ideal location to park your money or the perfect spot to run a retail business while earning income from the residential rental units thereby enabling you to operate rent free! Plus, the C6 Lambton Shores mixed use commercial/residential zoning allows for a variety of uses. This sweet spot is simply brimming with options & opportunity. The front commercial unit is nice and roomy, providing 1200 sq ft of space w/ storage & a staff washroom. Each of the back 3 bedroom apt units provide around 1500 sq ft, bringing your total square footage to over 4000! This is a gas heated/forced air fully winterized gem has seen lots of upgrades in recent years: some appliances, 2 new furnaces & a hot water heater in the last 1.5 yrs, creation of back parking areas, & metal roof on 75% of building + some updated windows w/ the previous owner. There is ample parking both in front & at the back of the property via a private driveway on the north side & an additional right of way access on the southside. If you needed to, you could have up to 18 vehicles parked on site. See photos for CURRENT income, totaling just under $47K, with definitive potential to easily get that over $65K per year, if not higher! With a modest renovation to arrange for the front unit to be a live-in residential unit with an office space attached for a new tenant or just residential + w/ the use of the lower level space as another apartment, there's boatloads of potential here! Or, to get into an affordable home in GB, you could merge the 2 residential units to create a 6 bedroom 2 bathroom house with a walk-out basement! 6 bed, 3 bath, 10+ value! An easy money maker!

Details

MLS#40093450
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1969
Days On Site40

Features

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Area Information
ProvinceON
CountyLambton
CityGrand Bend
Postal CodeN0M 1T0
AreaLambton Shores
Listing VS Median (in N0M 1T0)
Price:
$695,000
low | high
Med:
$695,000
50% of Average
On Site:
40
low | high
Med:
33
100% of Average
Sourced by Back At You
Listing Updated: May 16, 2021 8:00:53 PM PDT
MIKE SLOAN LogoMLS Number: 40093450
Listing Provided By:
MIKE SLOAN  of  ROYAL LEPAGE TRILAND REALTY
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