1-4 - 58 Penetang Street

Welcome to this fantastic opportunity for investors! Presenting a Multi-Family Home for sale in Barrie , located at 58 Penetang Street, Barrie, this remarkable property is perfect for those looking to expand their real estate portfolio or enter the market for the first time. With its impressive features and prime location in the Codrington community, this two-storey multiplex is sure to catch your eye.

This charming home boasts a generous seven bedrooms and four bathrooms, making it an ideal investment for those seeking multiple rental units. The layout has been thoughtfully renovated to accommodate four separate units, providing excellent rental potential. The first unit features three bedrooms and one bathroom, while the second unit mirrors this configuration, ensuring ample space for tenants. The third unit offers two bedrooms and one bathroom, and the fourth unit is a cosy bachelor suite, perfect for individuals or couples. Each unit is equipped with essential amenities, including a fridge and stove, with the first two units having tenants responsible for their own hydro and heating costs. The third unit includes a dishwasher (as is), while the fourth unit’s rent is inclusive of utilities, making it a convenient option for prospective tenants.

One of the standout features of this Multi-Family Home for sale in Barrie is the coin-operated laundry facility located in the basement, providing an additional income stream for the owner. The basement also offers room for storage, should you require it. The property is serviced by municipal water and sewer, ensuring a hassle-free living experience for all tenants. The heating is provided by forced air, and while there is no central vacuum system or air conditioning, the property remains comfortable throughout the seasons.

Situated on a generous lot measuring 47 x 175 feet, this property provides ample outdoor space for tenants to enjoy. Although there is no swimming pool or garage, the private driveway accommodates up to four parking spaces, ensuring convenience for residents. The exterior of the building features durable vinyl siding, which not only enhances the aesthetic appeal but also requires minimal maintenance.

Another noteworthy aspect of this Multi-Family Home for sale in Barrie is its proximity to a wealth of amenities. Located just minutes away from Barrie's Centennial Park and the stunning waterfront of Lake Simcoe, residents can enjoy a variety of recreational activities throughout the year. The area is well-connected, with easy access to shopping centres, fine and casual dining options, libraries, recreational centres, and entertainment venues. Commuters will appreciate the convenience of public transit, GO Trains, and major highways leading north to cottage country and south to the Greater Toronto Area.

This property has a rich history, having been built over 100 years ago, and is ready for a new owner to breathe fresh life into it. With two furnaces and one hot water tank, the infrastructure is in place to support the needs of a multi-unit dwelling. The financial report for the property is available upon request, providing potential buyers with valuable insights into the investment's performance.

In summary, if you're searching for a Multi-Family Home for sale in Barrie that offers both charm and investment potential, look no further than 58 Penetang Street, Barrie. With its spacious layout, multiple rental units, and prime location in the Codrington community, this property is a rare find. Don't miss out on this opportunity to secure a fantastic investment in the heart of Barrie!

Codrington is a charming residential area nestled within the city of Barrie, Ontario, offering a delightful blend of suburban tranquillity and urban convenience. Characterised by its tree-lined streets and well-maintained homes, Codrington boasts a welcoming atmosphere that appeals to families and professionals alike. The community is conveniently located near various amenities, including parks, schools, and shopping centres, ensuring that residents have easy access to all their daily needs. With its close-knit feel and proximity to Barrie's vibrant downtown and beautiful waterfront, Codrington presents an ideal setting for those seeking a balanced lifestyle in a picturesque environment.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Oakley Park Public School, just 0.5 km away, offering both English and French language programs for grades JK to 8, with an impressive rating of 4.8. For secondary education, Barrie North Collegiate Institute is located 0.7 km from the property, providing English and French programs for grades 9 to 12, and it holds a solid rating of 7. Additionally, St. Marguerite D'Youville Catholic School is available for families seeking a Catholic education, situated 3.4 km away, although it currently does not have a school rating. The proximity of these schools enhances the appeal of the property, ensuring that children have access to quality education within a short distance. With a range of options in both public and Catholic schooling, parents can choose the best fit for their children's educational needs. Overall, this area is well-suited for families prioritizing education and convenience.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 409 residents, with an average household size of 1.8 individuals. The demographic profile reveals an average age of 42.9 years, indicating a mature community. The average household income stands at $66,500, but a significant portion, 27.2%, falls under the low-income category. The housing market reflects an average property price of $640,000, and the area is predominantly single, with 60% of the population identifying as such. Families with children represent 22.73% of households, while renters dominate the housing landscape at 84.09%, suggesting a transient population. Notably, there are no condominiums in the area, which may influence housing options. The community is also characterized by a relatively high level of education, with 61.04% of residents holding a college or university degree. However, a substantial 48.05% of the population is not actively participating in the labor force, which may reflect various socio-economic factors. Additionally, 12.05% of the residents are immigrants, contributing to the area's diversity. Overall, this demographic snapshot provides insights into the community's socio-economic dynamics and housing characteristics.