1137 Cedar Street Oshawa Ontario
Very Profitable, Legal 2-Unit Home on a large lot. Lower Unit is vacant. Lower unit has been completely redone in 2014 with permits, proper wall insulation and sound proofing. Private laundry in each unit. Side-by-side parking for 4+ vehicles in driveway plus an over-sized single-car garage. The roof is about 10 years old and is in good shape. New gas furnace in 2017. Keep existing, reliable and hassle-free upper tenant and rent lower unit at market value for a turn-key investment or move-in, renovate and rent again later at a much higher rate. Current Rents: Upper unit: $1287.48/month + 55% of all utilities Lower unit: VACANT - 45% of all utilities Approximate Market Rents Today: Upper Unit: $1600.00/month +utilities Lower Unit: $1400/month +utilities Potential Increase of $600+/month after tenant turn-over. Old windows throughout the home, however, utility costs are low and are paid by tenants. Attached pictures are from 5 years ago and basement unit may need a minor cosmetic reno upon tenant turnover basement does not show well due to pets and clutter. Potential for future redevelopment the lot would easily accommodate 2 semi-detached homes with no development charges (buyers to do own diligence). *** Listing Agent is the owner of this property. (id:4177)
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