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 |
Amenities/Features
- Irregular lot size



















































