146 PENETANG Street, Barrie, Ontario, L4M1V8 Barrie ON CA

Three unit property with great income. This legal duplex has a third non-registered unit that with a little work could be legalized too. The lower level is a 2-bedroom basement apartment currently renting for $1400 but tenant is leaving end of January and rent will easily become $1800 inclusive. The main floor is another 2-bedroom apartment with amazing tenants paying $1700 inclusive. This unit has been recently renovated with a new kitchen, paint through out and more. The upper level is currently vacant and has been completely renovated. New everything. It has a new tenant moving in Jan 1st at $1225. That brings the future rents to a total minimum of $4,725. Expenses add to approximately $10,460 (including property tax, insurance and snow removal) resulting in a NET INCOME of over $46,200. The most amazing aspect of this property is it's future potential. With a huge backyard (and easy access to it) and this area known for various lots having RM2 zoning it has potential for a secondary building to be constructed in the back. Other things could be altered to the current building as well which would increase both value and rents. Loads of potential here. Restricted showings: Mon - Fri 11-2 and 5-8 and Sat/Sun 11-7. (id:1937) Find out more about this property. Request details here