70-72 Victoria Avenue

Introducing an exceptional investment opportunity with a Multi-Family Home for sale in Smiths Falls , located at 70-72 Victoria Avenue, Smiths Falls. This well-maintained brick multiplex is perfectly situated on a corner lot, just a stone's throw away from the bustling downtown amenities and the picturesque Rideau Canal, a UNESCO World Heritage Site. This property is an ideal choice for those seeking a solid investment in the thriving community of Smiths Falls.

The building, a two-storey structure, features a total of 16 rooms, comprising eight spacious bedrooms and four bathrooms. With four separate kitchens, this Multi-Family Home for sale in Smiths Falls is designed for maximum functionality and convenience. Each of the four 2-bedroom units is currently occupied by tenants, providing a steady cash flow and making this property a true turnkey investment. The current gross annual income stands at an impressive £41,143, with tenants responsible for their own hydro expenses while the owner covers the gas heating, which is supplied via a forced air system.

The property at 70-72 Victoria Avenue, Smiths Falls, boasts several updates that enhance its appeal. The roof was replaced in 2021, along with the furnaces, ensuring that the building is both efficient and reliable. Recent improvements also include the replacement of front windows and the back door for Unit 72, as well as new front windows for the lower Unit 70. The hot water tanks are owned, and each unit is equipped with its own hydro meter, adding to the convenience for both tenants and the landlord.

While this Multi-Family Home for sale in Smiths Falls does not include air conditioning or a central vacuum system, it offers ample space for comfortable living. The upper units enjoy the added benefit of private balconies, perfect for relaxing outdoors, while the main level units feature decks and shared access to a spacious yard. The property is set on a generous lot measuring 49 X 78 feet, providing plenty of outdoor space for tenants to enjoy.

Parking is not an issue at 70-72 Victoria Avenue, Smiths Falls, as there is a laneway at the back of the building, ensuring that residents have convenient access to their vehicles. However, it is worth noting that there is no garage space or driveway associated with this property. The building is unfurnished, allowing new owners the flexibility to furnish the units to their taste.

Smiths Falls itself is a charming small town that offers a delightful atmosphere and a range of attractions. Residents can enjoy local parks, such as Victoria Park, and cultural sites like the Heritage House Museum and the Railway Museum of Eastern Ontario. The community is rich in green spaces and trails, making it an ideal location for those who appreciate the outdoors. Furthermore, Smiths Falls is conveniently located within easy reach of larger cities such as Ottawa and Kingston, providing residents with access to additional amenities and services.

In summary, this Multi-Family Home for sale in Smiths Falls presents a remarkable opportunity for investors looking to secure a reliable income-producing property. With its strong rental history, prime location, and solid brick construction, this property at 70-72 Victoria Avenue, Smiths Falls, is sure to attract interest. Opportunities like this do not last long, so do not hesitate to explore this investment in the heart of Smiths Falls today!

Community 901 in Smiths Falls is a charming and inviting neighbourhood that offers a unique blend of small-town warmth and modern amenities. Nestled along the picturesque Rideau Canal, it boasts a rich history and a vibrant local culture, making it an appealing place for potential residents. The area features well-maintained parks, scenic walking trails, and a variety of shops and eateries that cater to diverse tastes. With its friendly atmosphere and strong sense of community spirit, Community 901 provides an ideal setting for families and individuals alike, all while being conveniently located near essential services and recreational activities. Whether you're seeking a peaceful retreat or an active lifestyle, this delightful neighbourhood has something for everyone.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. The closest school is Duncan J. Schoular Public School, just 0.4 km away, offering both English and French language programs for grades JK to 8, though it has a lower school rating of 0.6. For secondary education, Smiths Falls District Collegiate Institute is situated 2.7 km from the property, providing a strong curriculum for grades 9 to 12 with a commendable school rating of 3.9. Additionally, St. Francis de Sales Catholic School, located 2.2 km away, caters to younger students in grades JK to 6 and boasts a high rating of 4.7, offering a French language program. Overall, the area presents a mix of public and Catholic schooling options, with a focus on both English and French education, ensuring that families have access to quality schooling that meets diverse needs. This proximity to schools enhances the property's appeal, providing convenience and a supportive community for educational growth.

Key Statistics of the Neighbourhood

The area surrounding the property has a small population of 498 residents, with an average household size of 2.2 individuals. The demographic is relatively mature, with an average age of 39.7 years. The average household income stands at $72,000, although 18.4% of the population is classified as low-income. The real estate market reflects an average home price of $272,000, indicating moderate affordability. A significant portion of the community, 58.54%, is single, while 39.13% of households include children, suggesting a mix of family dynamics. The area has a notable percentage of renters, making up 66.67% of households, and there are no condominiums available. Educational attainment is relatively high, with 34.52% of residents holding a college or university degree. However, a considerable 42.86% of the population is not actively participating in the labor force, which may reflect various socio-economic factors. Additionally, the community is home to 7.84% immigrants, contributing to its diversity. Overall, this demographic profile indicates a community that is primarily composed of young families and singles, with a significant rental market and a mix of educational backgrounds.