263 Bethune Street

If you’re on the lookout for a fantastic investment opportunity, then this Multi-Family Home for sale in Peterborough at 263 Bethune Street, Peterborough is certainly worth your attention. This legal duplex, nestled in the heart of Town Ward 3, boasts R6 zoning, which opens the door to substantial redevelopment potential. With the zoning allowing for up to eight units, subject to the necessary setbacks and minor variances, the possibilities here are quite exciting. The City of Peterborough has shown a willingness to consider additional units under the current zoning framework, so you can rest assured that this is a prime spot for future growth.

The property itself, a charming multiplex styled in a 1½ storey design, features a robust exterior clad in aluminium siding. It’s a well-maintained structure that has seen significant upgrades over the years, making it an attractive option for both investors and developers. The layout currently comprises two distinct units: Unit 1 offers two cosy bedrooms and a bathroom, while Unit 2 provides two bedrooms and a convenient 1.5 bathrooms. This setup makes it ideal for multi-family living or renting out to tenants, ensuring a steady stream of income.

One of the highlights of this Multi-Family Home for sale in Peterborough is the extensive renovations that have been carried out. Major system upgrades include all-new electrical wiring and plumbing throughout, ensuring that everything is up to code and functioning perfectly. The installation of two new furnaces and HVAC systems guarantees comfort for residents, while new drywall and insulation enhance the overall efficiency of the home. Additionally, the property has been updated to meet the Ontario Building Code fire-rating requirements, giving you peace of mind regarding safety.

The property is also equipped with a family room, perfect for gatherings or simply unwinding after a long day. While it doesn’t feature a central vacuum system or air conditioning, the charm of this Multi-Family Home for sale in Peterborough lies in its character and the ample space it offers. The home is unfurnished, allowing you the freedom to style it to your taste.

Situated on a generous lot measuring 64 x 115 feet, this property has plenty of outdoor space for potential enhancements. While there’s no pool or garage on site, the private lane driveway provides parking for up to four vehicles, making it convenient for residents and guests alike. The basement features a separate entrance and is currently unfinished, presenting an opportunity for further development or storage.

As you explore the area surrounding 263 Bethune Street, Peterborough, you’ll find that it’s a vibrant community with a lot to offer. The location is well-connected, making it easy for residents to access local amenities, schools, and parks. The municipal water and sewer services are an added benefit, ensuring that all essential utilities are readily available.

This Multi-Family Home for sale in Peterborough is not just a property; it’s a chance to invest in a growing urban area with significant potential for future density. With the legal duplex status and the strong redevelopment prospects, it’s an excellent opportunity for those looking to make a mark in the property market. Whether you’re an investor or a developer, this property at 263 Bethune Street, Peterborough is a must-see.

In summary, if you’re interested in a property that combines a solid foundation with immense potential, look no further than this Multi-Family Home for sale in Peterborough. With its prime location, robust upgrades, and the possibility for expansion, this is a golden opportunity that shouldn’t be missed. Come and explore the potential of 263 Bethune Street, Peterborough, and see for yourself why this property is a standout choice for savvy investors.

Town Ward 3, located in the vibrant city of Peterborough, offers a unique blend of urban convenience and green spaces, making it an appealing choice for prospective residents. This area is characterised by its diverse architecture, ranging from charming period homes to modern developments, and is well-served by local amenities including shops, schools, and parks. The community benefits from excellent transport links, providing easy access to the city centre and surrounding regions. With a strong sense of local identity, Town Ward 3 is not only a place to live but also a welcoming environment where neighbours can connect and enjoy the rich cultural offerings of Peterborough. Whether you're looking for leisurely strolls along the River Nene or engaging in community events, this ward promises a fulfilling lifestyle.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a 2.3 km radius, you will find a variety of Catholic schools operated by the Peterborough Victoria Northumberland and Clarington Catholic District School Board. For elementary education, Immaculate Conception Catholic Elementary School (1.3 km away) offers classes from Junior Kindergarten to Grade 8 in English, while St. Anne Catholic Elementary School (2.3 km) provides the same grade levels but in French. For secondary education, St. Peter Catholic Secondary School is located just 1.7 km away, offering both English and French instruction for grades 9 to 12. These schools are well within a short commute, ensuring that your children can easily access quality education. Although the school ratings are currently not available, the proximity to these institutions adds significant value to the property, providing a supportive environment for academic growth and community engagement. Overall, this area is well-suited for families seeking educational opportunities in a nurturing setting.

Key Statistics of the Neighbourhood

The area surrounding the property has a small population of 813 residents, with an average household size of 1.6. The community is characterized by an older demographic, with an average age of 50.6 years. The average household income stands at $50,600, but a significant portion of the population, 29.4%, is classified as low-income. A notable 71.15% of residents are single, while only 22.22% of households include children, indicating a predominantly adult population. The area has a high percentage of renters, at 97.26%, suggesting limited homeownership opportunities, and condos make up 9.59% of the housing options. Educational attainment is relatively high, with 52.25% of residents holding a college or university degree. However, a considerable 35.14% of the population is not participating in the labor force, which may reflect various socio-economic factors. Additionally, 14.29% of the residents are immigrants, contributing to the area's diversity. Overall, this demographic snapshot reveals a community with unique characteristics, including a high proportion of singles, renters, and a mature population, alongside challenges related to income and labor force participation.