1379 3rd Avenue E

If you’re on the lookout for a fantastic investment opportunity, then look no further than this Multi-Family Home for sale in Owen Sound . Nestled at 1379 3rd Avenue E, Owen Sound, this turn-key duplex is not just a property; it’s a golden ticket to solid cash flow in a thriving rental market. With an impressive 8.5% cap rate, it’s a savvy choice for any investor wanting to make their mark in the real estate scene.

To find this gem, simply head east on 8th Avenue E from the Owen Sound Farmer's Market, then take a right onto 3rd Avenue E. You won’t miss it; this charming brick two-storey home is right there on your right, ready to offer immediate cash flow. With a total of 11 rooms, including five bedrooms and two bathrooms, this Multi-Family Home for sale in Owen Sound is designed to cater to a variety of tenants, ensuring high occupancy rates and steady income.

The property features a spacious three-bedroom unit on the main floor, perfect for families or groups looking for comfortable living. Meanwhile, the upper unit boasts two bright bedrooms, making it an attractive option for young professionals or couples. Both units are separately metered, allowing tenants to manage their own hydro, which is a huge draw for potential renters. With separate entrances and laundry facilities, this duplex offers the privacy and independence that tenants crave.

One of the standout features of this Multi-Family Home for sale in Owen Sound is its ability to generate over £41,000 in annual rental income. With just a 20% down payment, you could recoup your initial investment in a mere 23 months! It’s a fantastic opportunity for both seasoned investors and those just starting out. The property is situated in a strong rental market, which means demand is consistent, and you can expect a reliable stream of income without the hassle.

While the house does not come with any additional land, a garage, or a central vacuum system, it more than makes up for it with its spacious layout and prime location. The lot measures 36 by 176 feet, providing ample space for tenants to enjoy their outdoor living. Although there’s no pool or fireplace, the property is equipped with municipal water and a septic system, ensuring that all essential services are in place.

Inside, you’ll find that the property is unfurnished, giving you the flexibility to style it according to your vision or let tenants bring their own flair. The heating is provided by a forced air system, ensuring that the home stays warm and inviting during those chilly Grey County winters. Although there’s no air conditioning, the layout and design of the home allow for a comfortable living environment year-round.

The basement is currently unfinished, presenting an excellent opportunity for future development or storage. With no family room included, the focus remains on the rental units, making this Multi-Family Home for sale in Owen Sound a straightforward investment with minimal upkeep. Plus, with parking space for up to five vehicles, tenants will appreciate the convenience of having their own parking spots.

In summary, this Multi-Family Home for sale in Owen Sound at 1379 3rd Avenue E, Owen Sound, is a prime investment opportunity that shouldn’t be missed. With strong tenant appeal, a solid rental income, and a low-maintenance approach to property ownership, it’s the perfect asset for anyone looking to build wealth in the heart of Owen Sound. Whether you’re a seasoned pro or just dipping your toes into the property market, this duplex offers everything you need for a successful investment journey. Don’t let this opportunity slip through your fingers!

Owen Sound, nestled at the mouth of the Sydenham River and bordered by the stunning shores of Georgian Bay, offers a picturesque setting for those seeking a tranquil yet vibrant lifestyle. This charming city is characterised by its rich history, evident in the well-preserved architecture and cultural landmarks that dot the landscape. Surrounded by lush natural beauty, including nearby parks and hiking trails, residents can enjoy a myriad of outdoor activities year-round. The community boasts a welcoming atmosphere, with local markets, art galleries, and a variety of eateries that celebrate both local and international flavours. With its blend of natural splendour and cultural richness, Owen Sound presents an inviting haven for those looking to embrace a fulfilling life in a scenic environment.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. Within a short distance, you will find Hillcrest Elementary School (1.7 km) and East Ridge Community School (1.8 km), both of which cater to students from Junior Kindergarten to Grade 8, with East Ridge offering instruction in French. For secondary education, Owen Sound District Secondary School (1.9 km) provides French-language instruction for Grades 9 to 12, while St. Mary’s High School (only 0.3 km away) offers an English curriculum for the same grade levels. Additionally, St. Basil's Catholic Elementary School (2.2 km) serves younger students in a Catholic setting from JK to Grade 3. All schools are part of reputable school boards, including the Bluewater District School Board and the Bruce-Grey Catholic District School Board. This diverse array of educational options ensures that families can choose the best fit for their children’s learning needs and preferences, all within a short commute from the property.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 467 residents and an average household size of 2.1. The average age is 38.2 years, indicating a relatively mature population. The average household income stands at $65,500, with 22.4% of residents classified as low-income. The housing market is characterized by an average price of $325,000, and a significant portion of the population, 60.87%, are renters, suggesting a strong rental market. Notably, 59.49% of the population is single, while 30.43% of households have children, highlighting a mix of family structures. The area also has a modest immigrant presence, accounting for 7.55% of the population. Educational attainment is relatively high, with 34.48% of residents holding a college or university degree. However, a significant portion of the population, 31.03%, is not in the labor force, which may impact local economic activity. Overall, this community presents a blend of demographic characteristics that could appeal to various potential buyers or renters, particularly those looking for a vibrant, diverse environment.