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3-5 MARY STREET N, Smiths Falls

7 BEDS · 4 BATHS · 2500 - 3000 sqft

$509,900

INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.

General Info


MLS Listing ID: X13874990 Bedrooms: 7 Bathrooms: 4 Year Built: 0
Listing Type: Multi-family Half Baths: 2 Fireplace Fuel: N/A Maintenance Fee: N/A
Foundation: Stone Roof: N/A Title To Land: N/A Parking Space Total: 6
Parking: No Garage Heating: Forced air Size: 2500 - 3000 sqft Air Conditioning : Window air conditioner
Home Style: N/A Finished Floor Area: N/A Fireplaces: N/A Basement: N/A (Unfinished)
Water Supply: Municipal water Road Type: N/A Pool Type: N/A
Listed BY: Ricardo Andrade Marquez, ROYAL LEPAGE PERFORMANCE REALTY

Amenities/Features


  • Irregular lot size

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