$849,900

Description

Attention investors! Excellent opportunity to own an income-generating triplex offering over an 8% Gross cap rate, featuring two spacious 3-bedroom apartments and one 1-bedroom basement apartment, making it a great addition to any investment portfolio. Located in a lovely residential neighborhood on a large corner lot zoned for potential future development, the property offers a very large rear yard and ample parking. Numerous upgrades include a newer roof, updated furnace, newly finished basement, updated hallway with ceramic flooring, and freshly painted common areas. The main floor 3-bedroom unit has been recently fully painted and features a newly renovated bathroom, along with a den, balcony, and dishwasher, while the second large 3-bedroom unit offers a spacious eat-in kitchen. The 1-bedroom basement apartment provides additional rental income and potential to expand into the utility room for extra living space. Each unit has its own electricity meter, with tenants paying electricity while the landlord covers gas and water. The property is currently occupied by excellent tenants, generating strong rental income: top unit $2,000/month, second unit $2,500/month, and basement $1,800/month. Conveniently located near shopping centers, schools, public transit, and with quick access to Airport Parkway, this property offers stable income, solid upgrades, and future development potential.