56 Hilliard Street

Introducing a remarkable opportunity to acquire a Multi-Family Home for sale in Peterborough , located at 56 Hilliard Street, Peterborough. This solid brick, legal non-conforming triplex is perfectly situated in the vibrant Northcrest Ward 5, offering a prime location near Adam Scott, the Rotary Trail, and the bustling George and Water Streets. This property is not only a sound investment but also a comfortable living space, boasting three one-bedroom units that are fully rented, ensuring a steady income stream.

The property features a well-maintained exterior, constructed from durable brick, which adds to its charm and longevity. As you explore this Multi-Family Home for sale in Peterborough, you will discover that it spans two storeys and comprises a total of six rooms, including three kitchens, each equipped with essential appliances such as fridges and stoves. One of the units is particularly appealing as it includes a washer and dryer, making it convenient for tenants.

At 56 Hilliard Street, Peterborough, you will find that the layout of the property is designed to maximise functionality. Each unit is equipped with a four-piece bathroom, and one unit benefits from an additional two-piece bath, catering to the needs of the tenants. The property is unfurnished, allowing new owners the flexibility to style the interiors according to their preferences.

The heating system is powered by a forced air gas furnace, which was newly installed in 2021, ensuring efficient warmth during the colder months. Additionally, the property features a gas hot water tank, with the owner covering the gas expenses while two tenants manage their own hydro bills. Water and sewer costs for the building are also the responsibility of the owner, making for a straightforward management experience.

Parking is never an issue at this Multi-Family Home for sale in Peterborough, as the property includes an attached double car garage, providing space for two vehicles, along with a private driveway that accommodates an additional three parking spaces. The lot measures an impressive 124 x 89 feet, with additional land under half an acre, offering ample outdoor space for tenants to enjoy.

Despite the many advantages, it is important to note that the property does not feature central air conditioning, a family room, or a swimming pool, which may be considerations for potential buyers. However, the unfinished full basement presents an excellent opportunity for future development, whether for additional storage or potential living space, subject to local regulations.

The income potential of this Multi-Family Home for sale in Peterborough is significant, with a gross income of £44,604.00. Two of the tenants are on leases, while one operates on a month-to-month basis, providing flexibility for the new owner. An income and expense sheet is available for review, offering a detailed breakdown of the financials associated with this property.

The current owners have taken excellent care of the grounds, with grass maintenance handled by them while tenants are responsible for snow removal. A pre-sale inspection is also available, giving potential buyers peace of mind regarding the property's condition.

In summary, 56 Hilliard Street, Peterborough, represents a unique investment opportunity in a desirable location. This Multi-Family Home for sale in Peterborough not only promises a solid return on investment but also offers a comfortable living environment for its tenants. With its strategic location, well-maintained features, and potential for future growth, this property is not to be missed. Whether you are an experienced investor or looking to enter the property market, this triplex is an excellent choice.

Northcrest Ward 5, located in the vibrant city of Peterborough, offers a charming blend of suburban tranquillity and urban convenience. This welcoming area is characterised by its leafy streets, well-maintained parks, and a variety of residential options, making it an appealing choice for families and professionals alike. The ward boasts easy access to local amenities, including shops, schools, and recreational facilities, while also being well-connected to the city centre. With a strong sense of community spirit and a diverse population, Northcrest Ward 5 provides a delightful environment for those seeking a balanced lifestyle in a picturesque setting.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. The closest school is St. Anne Catholic Elementary School, situated just 0.8 km away, offering grades from Junior Kindergarten to Grade 8. This school is part of the Peterborough Victoria Northumberland and Clarington Catholic District School Board and provides instruction in both English and French. For secondary education, St. Peter Catholic Secondary School is located 2.7 km from the property, catering to students in grades 9 to 12, also under the same school board and offering classes in both languages. Both schools are recognized as Catholic institutions, which may appeal to families seeking a faith-based education. While the school ratings are currently not available, the proximity of these schools enhances the property's appeal for potential buyers prioritizing education for their children. With a variety of language options and a commitment to Catholic values, this area is well-suited for families looking for quality educational opportunities.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 505 residents, with an average household size of 2.1 individuals. The community has a median age of 55.6 years, indicating a mature demographic. The average household income stands at $77,500, with 12% of the population classified as low-income. The real estate market reflects an average home price of $410,000, and 30.56% of residents are renters, while 25% of the housing stock consists of condominiums. The area has a significant single population at 53.76%, and households with children make up 22.73%. Additionally, 13.89% of residents are immigrants, contributing to the area's diversity. Education levels are relatively high, with 46.27% of the population holding a college or university degree. However, a notable 40.3% of the population is not in the labor force, which may impact local economic dynamics. Overall, this community offers a blend of stability and diversity, appealing to both families and individuals seeking a well-rounded living environment.