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Key Facts
Key facts for 129 Durham Street
Property Type
Apartment, 2-Storey
Parking
None 0 garage, 4 parking
MLS #
X6656058
Size
2000-2500 sqft
Basement
None
Listed on
2023-07-11
Lot size
31 x 88.0
Tax
$1,355 /yr
Days on Market
770
Approximate Age
51-99
Maintenance Fee
-
Description
This property offers four suites; two in the front structure and one in the back, all currently vacant, allowing you to choose your tenants and secure top-market rent near the 1% rule with a potential NOI of $50,000 upon filling vacant units. Each suite has separate meters for hydro and water, with ...sub-meters installed, leaving only gas expenses to the landlord. Tenants benefit from ample off-street and street parking options. Shared laundry facilities are available on-premise for added convenience. Capital improvements made in 2022/2023 include a new furnace for units 3 & 4 in the back structure, new windows, roof, soffit, eavestrough, and gutters. The front structure's roof remains in excellent condition. The property is insulated and features sub-meters for hydro and water. Further cosmetic enhancements in 2022/2023 include new interior and exterior doors contemporary kitchens, commercial-grade high-wear flooring, tile, smart thermostats, and revamped bathrooms. **** Extras **** Located in an area with affordable property taxes, strong rental demand, and low vacancy rates; a practical investment opportunity. Easy access to marinas; parks, and the Welland Canal, an appealing choice for tenants.
