649 Charlotte Street

Introducing the delightful Multi-Family Home for sale in Peterborough , located at 649 Charlotte Street, Peterborough. This exceptional property is a fully tenanted triplex that boasts an enviable position close to downtown, the hospital, and all the key amenities that Peterborough has to offer. If you’re on the lookout for a solid investment opportunity, this could be just what you need.

The building itself is a charming two-storey multiplex, constructed from sturdy brick, which not only adds to its aesthetic appeal but also ensures durability. This Multi-Family Home for sale in Peterborough features a total of 11 rooms, including five spacious bedrooms and three well-appointed bathrooms. The main unit, a generous three-bedroom space of approximately 1,200 sq. ft., has been meticulously renovated from top to bottom, making it a comfortable haven for tenants. Currently, this unit is rented out for a commendable £2,100 per month, plus hydro, which highlights its potential for generating income.

For those interested in the financial aspects, this property is quite the gem. The two bachelor apartments, which share a secondary gas furnace, are fully leased at £863 and £850 per month, both inclusive of utilities. This arrangement means that the building is not only generating a strong annual gross income of £45,756 but also has estimated annual expenses of £14,223, which cover taxes, utilities, and insurance. Consequently, the property yields a robust net operating income of approximately £31,500, making it an attractive proposition for savvy investors.

The Multi-Family Home for sale in Peterborough also boasts ample parking space, accommodating up to six vehicles. This is particularly beneficial for tenants, as it provides convenience and ease of access. The property features a private driveway, ensuring that parking is hassle-free for all residents.

While the home does not include a central vacuum system, air conditioning, or a swimming pool, it does come with a family room, which adds a lovely communal space for tenants to relax and unwind. The absence of a fireplace may be a consideration for some, but the warmth of the forced-air heating system ensures that the home remains cosy during the colder months.

Located in the vibrant Town Ward 3 of Peterborough, 649 Charlotte Street, Peterborough, is perfectly situated for those who appreciate being close to the hustle and bustle of city life. The community is well-served by local amenities, making it an ideal spot for families and individuals alike. The municipal water and sewer services further enhance the convenience of living in this area.

With no additional land to worry about, this Multi-Family Home for sale in Peterborough is a straightforward investment opportunity. The full basement offers potential for further development or storage, depending on your vision for the property.

In summary, 649 Charlotte Street, Peterborough, is a well-maintained, income-producing triplex that presents an excellent opportunity for anyone looking to invest in a prime location. With its combination of modern updates, solid income potential, and versatility, this property is a standout option in the current market. Don't miss your chance to explore this Multi-Family Home for sale in Peterborough – it could be the investment you've been waiting for!

Town Ward 3 in Peterborough is a vibrant and diverse area characterised by its mix of residential neighbourhoods, local amenities, and green spaces. Nestled within easy reach of the city centre, it offers a blend of urban convenience and suburban charm. Residents enjoy a variety of shops, cafes, and parks, making it an ideal place for families and individuals alike. The ward is well-connected by public transport, providing easy access to the wider city and surrounding areas. With a strong sense of local identity and community spirit, Town Ward 3 is a welcoming place for newcomers to settle and thrive.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you'll find St. Teresa Catholic Elementary School, just 1.1 km away, offering grades JK to 8 with an English curriculum. Additionally, St. Peter Catholic Secondary School, located only 0.9 km from the property, provides education for grades 9 to 12, also in English. For families seeking a French-language education, St. Catherine Catholic Elementary School is available 2.1 km away, offering the same grade range, while St. Peter Catholic Secondary School also offers a French program for older students. All schools are part of the Peterborough Victoria Northumberland and Clarington Catholic District School Board, ensuring a cohesive educational experience. Although the school ratings are not specified, the proximity to these institutions enhances the appeal of the property for buyers prioritizing access to quality education for their children. Overall, this location offers a variety of educational options within a short distance, catering to different language preferences and grade levels, which is a significant advantage for potential buyers.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 392 residents. The average household consists of 2.3 individuals, with a median age of 41.5 years, indicating a mature population. The average household income is a robust $98,000, with only 9% of residents classified as low-income, suggesting a relatively affluent community. The real estate market reflects this economic stability, with average home prices at $570,000. Socially, the area has a diverse composition, with 46.27% of the population being single and 34.78% of households having children, highlighting a mix of family dynamics. The community also includes 8.25% immigrants, contributing to its cultural diversity. Renters make up a significant portion of the population at 37.84%, while the area has no condominiums, indicating a preference for other housing types. Education levels are notably high, with 69.23% of residents holding a college or university degree. However, a substantial 37.18% of the population is not in the labor force, which may reflect various socio-economic factors affecting employment in the area. Overall, this community presents a blend of stability, diversity, and educational attainment.