98 Elmsley Street N

If you’re on the lookout for a fantastic investment opportunity, then look no further than this Multi-Family Home for sale in Smiths Falls . Nestled at 98 Elmsley Street N, Smiths Falls, this property is a true gem in the heart of the community. This impressive multiplex boasts a solid brick exterior, complemented by other materials, and stands proudly as a two-storey building that’s over 100 years old. The age of the property adds a certain charm and character, making it a unique prospect for any savvy investor.

This Multi-Family Home for sale in Smiths Falls is fully leased and consists of three separate units, making it an ideal choice for those looking to generate rental income. The layout is well thought out, with the main floor (UNIT 1) featuring a cosy 1-bedroom, 1-bathroom unit that’s perfect for singles or couples. Moving up to the upper level (UNIT 2), you’ll find a spacious 2-bedroom, 1-bathroom unit that offers a bit more room for families or housemates. At the rear of the building, UNIT 3 is a delightful two-storey, 2-bedroom, 1-bathroom unit, providing even more living space and comfort.

Situated at 98 Elmsley Street N, Smiths Falls, this property offers a total of 12 rooms, including three kitchens, which is a real bonus for a multi-family dwelling. However, it’s worth noting that there’s no additional kitchen or den, which might be something to consider for future renovations. The property also features three bathrooms, ensuring that tenants have ample facilities to share.

Parking is another strong point of this Multi-Family Home for sale in Smiths Falls. There’s space for three to four cars in the driveway, along with a detached single garage that could provide additional rental potential or serve as a handy storage space. This is particularly appealing in a community where parking can often be a premium.

While the property is currently unfurnished and does not have central air conditioning or a fireplace, it does come equipped with internet access, which is essential for modern living. The heating is provided by a forced air system, and the home is connected to municipal water and sewer services, adding to the convenience of living in this well-located property.

It’s important to mention that the basement is unfinished, presenting an excellent opportunity for those looking to add value through renovations. The property does require considerable work, but for the right buyer, this could be a golden opportunity to enhance the property and increase its market value.

Located in the vibrant community of 901 - Smiths Falls, this Multi-Family Home for sale in Smiths Falls is conveniently close to shops, services, and the community recreation centre, making it an attractive option for tenants. The proximity to the hospital and the beautiful Victoria Park, which is just a short walk away, adds to the appeal of this location.

With separate hydro and gas meters for Units 1 & 2 and Unit 3, managing utilities is straightforward, which is a significant advantage for any landlord. As with any property of this age, prospective buyers should verify all information regarding taxes and building area, as the seller makes no representations or warranties about the property’s condition.

In summary, this Multi-Family Home for sale in Smiths Falls at 98 Elmsley Street N, Smiths Falls, is a promising investment opportunity. With its solid structure, prime location, and potential for renovations, it could be the perfect project for those looking to make their mark in the property market. Don’t miss out on this chance to own a piece of Smiths Falls – it could be the investment you’ve been waiting for!

901 - Smiths Falls is a charming and picturesque area nestled within the town of Smiths Falls, Ontario. This community boasts a rich historical backdrop, characterised by its quaint streets and well-preserved architecture, reflecting the town's vibrant past. Surrounded by the serene beauty of the Rideau Canal and lush green spaces, residents can enjoy a variety of outdoor activities, from leisurely strolls along the waterfront to exploring nearby parks. The area offers a friendly atmosphere, with local shops, cafés, and amenities that cater to everyday needs, making it an ideal place for those seeking a peaceful yet engaging lifestyle. With a strong sense of belonging and a welcoming spirit, 901 - Smiths Falls presents an inviting option for anyone looking to settle in a delightful small-town setting.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Duncan J. Schoular Public School, just 0.4 km away, offering both English and French programs for grades JK to 8, although it has a lower school rating of 0.6. For secondary education, Smiths Falls District Collegiate Institute is located 2.6 km from the property, providing English instruction for grades 9 to 12, and boasts a higher school rating of 3.9. Additionally, St. Francis de Sales Catholic School, situated 2.0 km away, offers a French-language curriculum for grades JK to 6 and has an impressive school rating of 4.7. This diverse range of schooling options, including both public and Catholic education, ensures that families can find the right fit for their children's educational needs. The proximity to these schools adds to the appeal of the property, providing peace of mind for parents seeking quality education within a short distance. Overall, the area offers a supportive educational environment for children of all ages.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 551 residents, with an average household size of 2.2. The community is characterized by a median age of 39.4 years and an average household income of $72,000. Notably, 18.4% of the population falls within the low-income bracket, indicating some economic diversity. The real estate market reflects an average property price of $325,000, appealing to a mix of buyers and renters, with 66% of households renting. The area has a significant single population at 55.56%, while 32.14% of households include children, suggesting a family-friendly environment. Immigrants make up 4.12% of the population, contributing to the community's diversity. Educational attainment is relatively high, with 42.35% of residents holding a college or university degree. However, a notable 45.88% of the population is not in the labor force, which may impact local economic dynamics. Overall, this area presents a blend of young professionals, families, and a significant rental market, making it an intriguing option for potential homebuyers and investors alike.