17 Lombard Street

Nestled in the vibrant community of Smiths Falls, this remarkable property at 17 Lombard Street, Smiths Falls, is a multi-family home for sale in Smiths Falls that promises both charm and investment potential. With its strategic location at the corner of Lombard Street and Aberdeen Avenue, this multiplex stands as a testament to well-maintained living, offering a unique opportunity for those looking to invest in a cash-flowing property.

This multi-family home for sale in Smiths Falls boasts an impressive layout, featuring a total of six bedrooms and three bathrooms spread across three self-contained units. Each unit is designed to accommodate two bedrooms and one full bathroom, making it ideal for families or individuals seeking comfortable living spaces. The property is unfurnished, allowing new owners to personalise the interiors to their liking. With a total of twelve rooms, including a family room in each unit, there is ample space for relaxation and entertainment.

The exterior of the building is clad in durable vinyl siding, ensuring low maintenance while maintaining an attractive appearance. The property sits on a generous lot measuring 59 by 117 feet, providing designated parking for each unit, which is a significant advantage in this bustling area. Although there is no garage or driveway, the parking space for five vehicles ensures that tenants will have convenient access to their homes.

Inside, the property is equipped with three kitchens, allowing each unit to function independently. While there is no additional kitchen or central vacuum system, the existing amenities are more than sufficient for comfortable living. The building is heated by a baseboard heating system, and while air conditioning is listed as 'other', the property is designed to maintain a pleasant atmosphere throughout the year.

One of the standout features of this multi-family home for sale in Smiths Falls is its financial viability. With a total annual income of £53,029.68 and expenses amounting to £35,500.56, the property yields a healthy net income of £17,529.12. The cap rate of 5.49% is indicative of a strong investment opportunity, making this property an attractive addition to any investment portfolio.

The basement, although unfinished, has been spray foamed for insulation, and the sewer line has been replaced with ABS, ensuring the property is in good condition for future developments. The absence of a pool and fireplace may seem like drawbacks, but they allow for a lower maintenance commitment, making it easier for landlords to manage the property.

The location of 17 Lombard Street, Smiths Falls, is undoubtedly one of its most appealing aspects. Situated within walking distance to downtown Smiths Falls, residents will find themselves close to schools, shopping, and everyday amenities. The proximity to Victoria and Centennial Parks, Turtle Island, and Murphy Park Public Beach offers tenants a plethora of outdoor activities, including festivals, skating, swimming, and paddling. The vibrant community spirit is palpable, with year-round events just a stone's throw from the front door.

In summary, this multi-family home for sale in Smiths Falls at 17 Lombard Street, Smiths Falls, presents a unique investment opportunity in a growing market. With its proven income stream, solid cap rate, and ample parking, this property is a smart choice for investors looking to capitalise on the consistent rental demand in the area. Whether you are an experienced investor or new to the property market, this multiplex is certainly worth considering. Don't miss your chance to own a piece of Smiths Falls; this multi-family home for sale in Smiths Falls could be the perfect addition to your portfolio.

Community 901, nestled within the charming town of Smiths Falls, offers a delightful blend of small-town charm and natural beauty. This picturesque area is characterised by its serene landscapes, with the Rideau Canal flowing nearby, providing ample opportunities for outdoor activities such as boating, cycling, and leisurely strolls along the water's edge. The neighbourhood boasts a welcoming atmosphere, with friendly residents and a strong sense of local pride. You'll find a variety of amenities, including quaint shops, cosy cafés, and community parks, all contributing to a vibrant lifestyle. With its rich history and close-knit environment, Community 901 is an ideal place for those seeking a peaceful yet engaging setting to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Duncan J. Schoular Public School, just 0.9 km away, offering both English and French instruction for grades JK to 8, although it has a lower school rating of 0.6. St. Francis de Sales Catholic School, also nearby at 1.0 km, provides a French curriculum for grades JK to 6 and boasts a higher rating of 4.7, reflecting its strong reputation. For secondary education, Smiths Falls District Collegiate Institute is located 1.7 km from the property, serving grades 9 to 12 with a solid school rating of 3.9. All schools are part of reputable school boards, ensuring a quality education for students. With a mix of public and Catholic options, parents can choose the best fit for their children’s educational needs. The proximity to these schools enhances the property’s appeal, offering convenience and accessibility for daily commutes, extracurricular activities, and community engagement. Overall, this location provides a supportive environment for families focused on education.