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$ 649,900
Est. payment | /mo
5 Beds
2 Baths
2,000 SqFt
$ 649,900
Est. payment | /mo
5 Beds
2 Baths
2,000 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2000
Square Footage 2,000 sqft
Price per Sqft $324
Subdivision 52 - Preston North
MLS® Listing ID 40842655
Bedrooms 5
Year Built 1970
Property Sub-Type Freehold
Property Description
OWN YOUR HOME FOR LESS THAN THE COST OF RENT! This beautifully renovated bungalow with a legal accessory apartment offers a rare opportunity to enjoy homeownership in a fantastic Cambridge neighbourhood while significantly offsetting your mortgage. With $2,500 per month already coming in from the upper-level unit, you can enjoy the benefits of a fully updated home at a cost that may be less than many rental payments. Situated on a generous 50-foot-wide lot, this turn-key property has been extensively renovated from top to bottom. Major updates have already been completed, including mechanical systems, leaving nothing to do but move in and enjoy. The upper-level unit is currently occupied by an excellent family paying $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers exceptional flexibility and offers 2 large bedrooms, spacious living room, and large windows allow the rooms to fill with light. Live in one unit while collecting rent from the other, accommodate extended family, or maximize your investment by renting both units. Outside, you'll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists needing extra space. Whether you're a first-time buyer looking for mortgage assistance, an investor seeking a turn-key income property, or someone looking for flexible living arrangements, this property checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The unit is presently occupied by wonderful tenants who pay on time and would be happy to stay. Opportunities offering this combination of renovation, income potential, and flexibility are hard to find. Own a great home in a great neighbourhood—while your tenant helps pays most of the mortgage. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air,
Cooling Central air conditioning
Exterior
Parking Features No
Community Features Quiet Area
View Y/N No
Attached Garage No
Total Parking Spaces 5
Garage No
Private Pool No
Building
Story 1
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Keller Williams Home Group Realty, Brokerage
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