$695,000

139 Ontario Street S

Grand Bend ON, N0M 1T0

Description

Quality investment property in Grand Bend: multi-family/multi-unit with two rock solid 3 bedroom apartments & an ideal storefront commercial unit plus room to grow into the full height basement! It's been quite a while since we had a real estate offering like this in Grand Bend, a well-kept building that would be an ideal location to park your money or the perfect spot to run a retail business while earning income from the residential rental units thereby enabling you to operate rent free! Plus, the C6 Lambton Shores mixed use commercial/residential zoning allows for a variety of uses. This sweet spot is simply brimming with options & opportunity. The front commercial unit is nice and roomy, providing 1200 sq ft of space w/ storage & a staff washroom. Each of the back 3 bedroom apt units provide around 1500 sq ft, bringing your total square footage to over 4000! This is a gas heated/forced air fully winterized gem has seen lots of upgrades in recent years: some appliances, 2 new furnaces & a hot water heater in the last 1.5 yrs, creation of back parking areas, & metal roof on 75% of building + some updated windows w/ the previous owner. There is ample parking both in front & at the back of the property via a private driveway on the north side & an additional right of way access on the southside. If you needed to, you could have up to 18 vehicles parked on site. Each of the residential units are in respectable condition & together bring in nearly $32K per year in rent. The commercial unit potentially can bring in another $26K per year with a new tenant. The current tenant is paying $15K per year. However, with a modest renovation to arrange for the front unit to be a live-in residential unit with an office space attached for a new tenant, you'd be at $26K min per yr. Or, to get into an affordable home in GB, you could merge the 2 residential units to create a 6 bedroom 2 bathroom house with a walk-out basement! 6 bed, 3 bath, 10+ value! Potential income $58K!

Details

MLS#40093450
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1969
Days On Site30

Features

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Area Information
ProvinceON
CountyLambton
CityGrand Bend
Postal CodeN0M 1T0
AreaLambton Shores
Listing VS Median (in N0M 1T0)
Price:
$695,000
low | high
Med:
$512,450
76.26618705036% of Average
On Site:
30
low | high
Med:
137
21.897810218978% of Average
Sourced by Back At You
Listing Updated: May 6, 2021 8:00:52 PM PDT
MIKE SLOAN LogoMLS Number: 40093450
Listing Provided By:
MIKE SLOAN  of  ROYAL LEPAGE TRILAND REALTY
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