7 Jasper Avenue

If you’re on the lookout for a fantastic investment opportunity or perhaps a home that can help you generate some extra income, then this Multi-Family Home for sale in Smiths Falls is definitely worth your attention. Located at 7 Jasper Avenue, Smiths Falls, this charming multiplex boasts a prime position on a desirable street, nestled within the vibrant community of 901 - Smiths Falls. With a generous lot size of 150 X 145 feet, this property offers ample space and potential for both current and future endeavours.

This Multi-Family Home for sale in Smiths Falls is a well-maintained, two-storey brick building that has stood the test of time, being over 100 years old. Its age only adds to the character and charm of the property, making it a unique addition to any portfolio. The building is currently configured as a side-by-side duplex, with two separate units, each offering three bedrooms and one bathroom. This setup is perfect for those looking to live in one unit while renting out the other, allowing you to offset your mortgage with ease.

At 7 Jasper Avenue, Smiths Falls, you’ll find that both units are fully tenanted, providing a solid income stream right from the start. The first unit, located at 5 Jasper Avenue, features an updated kitchen and bathroom and is currently rented at a competitive rate of £1,800 per month. Meanwhile, the second unit at 7 Jasper Avenue is also a three-bedroom, one-bathroom home, currently rented at £899 per month. Both tenants are on month-to-month leases, which offers flexibility for the new owner. They pay for their own gas and hydro, while the landlord covers the water costs, making this a hassle-free investment.

The property is equipped with two kitchens, ensuring that each unit has everything needed for independent living. Although there is no central vacuum system or air conditioning, the forced air heating system keeps the homes warm and comfortable during the colder months. The absence of a fireplace and pool may be seen as drawbacks, but the spacious layout and the community’s amenities more than make up for it.

Parking won’t be an issue here, as there is a private driveway that can accommodate up to five vehicles. This is particularly advantageous for tenants or for when you have guests over. The exterior of the building is attractive and well-kept, contributing to the strong curb appeal that this Multi-Family Home for sale in Smiths Falls offers.

The property has seen some recent upgrades, including new windows in 2019 and a new roof installed in 2022. Additionally, the bathroom was updated in 2021, ensuring that the living spaces are modern and functional. With a current cap rate of 6.04% and a potential cap rate of 10.14%, the financial prospects of this property are quite promising. The current net operating income (NOI) stands at £22,929.72, with potential earnings reaching £38,531.52, making it an attractive option for savvy investors.

In summary, 7 Jasper Avenue, Smiths Falls, is a remarkable Multi-Family Home for sale in Smiths Falls that presents an excellent opportunity for both investors and owner-occupants. With its desirable location, solid income potential, and the flexibility of month-to-month leases, this property is not to be missed. Whether you’re looking to expand your investment portfolio or simply want a lovely home that can help with your mortgage, this duplex is a fantastic choice. Don’t hesitate to reach out and explore the possibilities that await at this splendid address!

901 - Smiths Falls is a charming neighbourhood nestled within the picturesque town of Smiths Falls, Ontario. This area boasts a delightful blend of historical charm and modern amenities, making it an appealing choice for prospective residents. Surrounded by lush greenery and the serene waters of the Rideau Canal, 901 offers a tranquil lifestyle while still being conveniently close to local shops, cafes, and recreational facilities. The community is well-connected by a network of walking trails and parks, perfect for those who enjoy outdoor activities. With its friendly atmosphere and strong sense of local pride, 901 - Smiths Falls presents an inviting environment for anyone looking to settle in a quaint yet vibrant setting.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to families with children of various ages. The closest school is Duncan J. Schoular Public School, situated just 0.8 km away, offering both English and French instruction for grades JK to 8, though it has a lower school rating of 0.6. For secondary education, Smiths Falls District Collegiate Institute is located 1.6 km from the property, providing grades 9 to 12 with a much higher school rating of 3.9, reflecting its strong academic performance. Additionally, St. Francis de Sales Catholic School, a Catholic institution offering French language instruction for grades JK to 6, is only 1.0 km away and boasts an impressive school rating of 4.7. This diverse range of nearby schools, including both public and Catholic options, ensures that families have access to quality education within a short distance, making this property an attractive choice for those prioritizing educational opportunities for their children.