Investment Opportunity with 5.8% Cap Rate. This 4-unit property is situated on a 13,433 sq. ft. corner lot. The oversized 0.308-acre lot provides parking for up to 12 vehicles, along with a detached garage that offers additional income potential. The property features 4 self-contained rental units, each with private entrances and outdoor spaces, including a rooftop terrace. The units consist of a 79A Coach House (Large 1 Bedroom Unit @ $1,850/month), Upper Unit ( Vacant 2 Bedroom Unit @ $2,200/month), Basement Apartment (Bachelor Unit @ $1,450/month), and Side Unit (Large 1 Bedroom Unit $1,500/month), generating a total rental income of $7,000 per month ($84,000 annually). This property achieves a strong 5.8% cap rate, making it an excellent cash-flowing investment. Investors will also appreciate the opportunity to further increase net operating income by raising rents and transitioning leases to exclude utilities and hydro. Recent updates include all new electrical wiring (2013), a new roof membrane on 79A and the rooftop terrace (2015), hardwood, fresh paint, and a cleared and maintained parking lot. Included in the sale are 4 fridges, 4 stoves, 1 dishwasher, 2 washers and 2 dryers, 4 window A/C units, and 3 sheds. Located in the heart of historic downtown Bowmanville, just blocks from the hospital that will be undergoing an expansion to double its size, this property provides both immediate rental income and long-term growth potential. Clarington itself is a rapidly growing municipality, with major infrastructure projects such as new highways and GO Train stations expected to support further residential, commercial, and industrial expansion. Significant increases in building permit values highlight strong investment and development activity, especially in residential construction. Updated economic development strategies ensure the town is well-positioned to capitalize on future growth. (id:51158)
| MLS® Number | E12418974 |
| Property Type | Single Family |
| Community Name | Bowmanville |
| Amenities Near By | Hospital, Park, Public Transit, Schools |
| Features | Level Lot |
| Parking Space Total | 13 |
| Structure | Shed |
| Bathroom Total | 4 |
| Bedrooms Above Ground | 5 |
| Bedrooms Below Ground | 1 |
| Bedrooms Total | 6 |
| Appliances | Dishwasher, Dryer, Stove, Two Washers, Refrigerator |
| Basement Development | Finished |
| Basement Features | Apartment In Basement |
| Basement Type | N/a (finished) |
| Construction Style Attachment | Detached |
| Cooling Type | Window Air Conditioner |
| Exterior Finish | Brick |
| Fireplace Present | Yes |
| Foundation Type | Unknown |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Ft2 |
| Type | House |
| Utility Water | Municipal Water |
| Detached Garage | |
| Garage |
| Acreage | No |
| Fence Type | Fenced Yard |
| Land Amenities | Hospital, Park, Public Transit, Schools |
| Sewer | Sanitary Sewer |
| Size Depth | 165 Ft ,2 In |
| Size Frontage | 77 Ft ,6 In |
| Size Irregular | 77.5 X 165.2 Ft ; Large Corner Lot/2 Road Fronts |
| Size Total Text | 77.5 X 165.2 Ft ; Large Corner Lot/2 Road Fronts |
https://www.realtor.ca/real-estate/28895910/79-queen-street-clarington-bowmanville-bowmanville
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