139 Ontario Street S Grand Bend, Ontario N0M 1T0
$695,000
Quality investment property in Grand Bend: multi-family/multi-unit with two rock solid 3 bedroom apartments & an ideal storefront commercial unit plus room to grow into the full height basement! It's been quite a while since we had a real estate offering like this in Grand Bend, a well-kept building that would be an ideal location to park your money or the perfect spot to run a retail business while earning income from the residential rental units thereby enabling you to operate rent free! Plus, the C6 Lambton Shores mixed use commercial/residential zoning allows for a variety of uses. This sweet spot is simply brimming with options & opportunity. The front commercial unit is nice and roomy, providing 1200 sq ft of space w/ storage & a staff washroom. Each of the back 3 bedroom apt units provide around 1500 sq ft, bringing your total square footage to over 4000! This is a gas heated/forced air fully winterized gem has seen lots of upgrades in recent years: some appliances, 2 new furnaces & a hot water heater in the last 1.5 yrs, creation of back parking areas, & metal roof on 75% of building + some updated windows w/ the previous owner. There is ample parking both in front & at the back of the property via a private driveway on the north side & an additional right of way access on the southside. If you needed to, you could have up to 18 vehicles parked on site. Each of the residential units are in respectable condition & together bring in nearly $32K per year in rent. The commercial unit currently will bring in another $26K per year if you accept the new tenant. The previous tenant (commercial only) was paying $15K per year. However, the owners plan to complete a modest renovation to arrange for the front unit to be a live-in residential unit with an office space attached for the new tenant. Or, to get into an affordable home in GB, you could merge the 2 residential units to create a 6 bedroom 2 bathroom house w/ a walk-out basement! 6 bed, 3 bath, 10+ value! (id:19173)
Property Details
| MLS® Number | 40093450 |
| Property Type | Office |
| Amenities Near By | Beach, Park, Place Of Worship, Playground, Schools, Shopping |
| Community Features | High Traffic Area, Community Centre, School Bus |
| Equipment Type | None |
| Features | Park Setting, Park/reserve, Beach, Crushed Stone Driveway, Country Residential |
| Rental Equipment Type | None |
Building
| Basement Development | Unfinished |
| Basement Type | Partial (unfinished) |
| Constructed Date | 1969 |
| Construction Style Attachment | Detached |
| Cooling Type | Window Air Conditioner |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Exterior | 4100.0000 |
| Utility Water | Municipal Water |
Land
| Access Type | Road Access, Highway Access |
| Acreage | No |
| Land Amenities | Beach, Park, Place Of Worship, Playground, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 225 Ft |
| Size Frontage | 66 Ft |
| Zoning Description | C6 |
https://www.realtor.ca/real-estate/23030855/139-ontario-street-s-grand-bend
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London and St. Thomas Association of REALTORS®
Royal LePage Triland Realty
April 13 2021 04:13:27
