9 Simcoe Street
Lindsay, Kawartha Lakes, K9V 2G2
FOR SALE
$699,900
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5
BEDROOMS 5
BATHROOMS 5
KITCHENS 19
ROOMS X14141386
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Property Description
An exceptional opportunity to own a fully tenanted, five-unit residential investment property in the heart of Lindsay! Situated on an expansive 62' x 173' lot in the desirable South Ward, this legal non-conforming fiveplex offers immediate rental income and exciting long-term potential. Set in an established neighbourhood with mature trees and charming homes, the property is a short walk from vibrant downtown Lindsay, with shopping, restaurants, parks, schools and everyday amenities nearby. Fleming College's Frost Campus is also conveniently located, adding to the property's appeal for potential tenants. The building features five self-contained units: three 1-bedroom apartments, one 2-bedroom apartment and one bachelor apartment. Four of the units are currently rented and one unit vacant and marketed for rent. Additional highlights include eight parking spaces, a full basement with ample storage, a high-efficiency boiler installed in 2019, a new front porch, new soffits and a generously sized backyard for tenants to enjoy. The substantial lot also offers potential for additional residential units at the rear of the property, subject to municipal approvals and applicable zoning and building requirements. With an established rental history, excellent location and possible future expansion opportunities, this is an attractive addition to any investment portfolio. Don't miss this income-generating opportunity!
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Sold History
| List Date | Sold Date | Days Listed | List Price | Sold Price |
|---|---|---|---|---|
| 2021-08-13 | 2022-01-19 | 159 | $999,999 | $950,000 |
Property Features
Other, Private
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Property Details
Address
9 Simcoe Street
Community
City
Postal Code
K9V 2G2
Property Type
Multiplex, Multiplex
Zoning
R2
Lot Size
63' x 173'
Taxes
$4,958 (2026
Basement
Unfinished, Full
Heat Type
Radiant
Heat Source
Gas
Water
Municipal
Parking Spaces
8
Garage Type
None
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Listing contracted with Keller Williams Edge Realty
Centrally located legal non-conforming brick triplex generating $5,140/month in gross rental income, situated on a generous 50 x 200 ft lot with excellent future potential. This income-producing property offers approximately 2,300 sq ft of living space across three residential units, three separate hydro meters, ample parking, and two additional rented detached structures providing supplementary rental income.The unit mix includes an upper-level 2-bed, 1-bath apartment ($1,235/month); a main-floor 2-bed, 1-bath apartment ($1,219/month); and an updated main-floor 1-bed, 1-bath apartment ($1,786/month). Additional rental income comes from a detached brick double tandem garage, currently leased at $500/month, and a separate two-storey barn, leased at $400/month. An unfinished basement provides free shared laundry for tenants along with additional storage space.Set on a substantial 200-foot-deep lot with plenty of parking, just steps from downtown Lindsay, Kent Street shopping and dining, the new Foundry development, and everyday amenities. An excellent investment opportunity with strong existing rental income, multiple income streams, and a large lot in a convenient central location.
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2 Bedroom apartment available for Owner occupancy approx. 1,700 sq.ft., live here and let the Tenants pay your Mortgage! Current Fire Inspection Report complete, all compliant! Investment opportunity in the Heart of Kinmount. This building has been well maintained andcared for. Offering 2 Commercial opportunities on the main floor, with long term Tenant in place in the one unit. The main floor also offers a well appointed studio apartment. The upper building has a 2 Bedroom apartment, occupied with long term Tenant, and a one bedroom occupied Dec.1. These units are a great source of income with the mix of Commercial and Residential uses. Kinmount thrives both Winter and Summer, being on the Rail trail for the adventure snow machines and atv's, and summer attracts a huge support from the Cottage Community. The holding tank is located for easy access and a pump out is approx.$360.00. Updated electrical includes 2-200 amp panels for the building. Seller take back mortgage available with 35% down, and commercial bank interest to get you started!
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