$849,900
Available - For Sale
Listing ID: X12219098
151 Chambers Stre , Smiths Falls, K7A 2Z5, Lanark
| This well-maintained, fully tenanted multiplex presents a strong opportunity for investors seeking a reliable income property with clear upside. Zoned R4 and located within walking distance of downtown Smiths Falls, the building includes six residential units: two 2-bedroom apartments, three 1-bedroom units, and one bachelor suite. All units save the bachelor are separately metered, with those tenants paying their own hydro. All units are heated by electric baseboard, and domestic hot water is supplied via a shared natural gas hot water tank. Two units have been recently renovated, and windows have been updated as needed over time. The property has been owned and maintained by a respected local general contractor for over 30 years, reflecting consistent care and stewardship. Key systems, including windows and the roof, have been updated as necessary over the years. With a current net operating income of $42,070, the property delivers a cap rate of 4.95% based on existing rents. However, with rents well below market value, there is significant room for growth. A pro forma using typical local rents projects a cap rate of 7% or more, even with allowances for management and maintenance. The property includes six on-site parking spots and is located directly adjacent to a public park, with a baseball diamond just across the street. Only a short walk to the Rideau River, restaurants, shopping, and other amenities, this property combines stable income with long-term potential in one of Eastern Ontario's most accessible mid-size markets. Further photos and projected income analysis available upon request. |
| Price | $849,900 |
| Taxes: | $3411.00 |
| Occupancy: | Tenant |
| Address: | 151 Chambers Stre , Smiths Falls, K7A 2Z5, Lanark |
| Acreage: | < .50 |
| Directions/Cross Streets: | Chambers St & Sussex St |
| Rooms: | 23 |
| Bedrooms: | 8 |
| Bedrooms +: | 0 |
| Family Room: | T |
| Basement: | Full, Exposed Rock |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Ground |
| Washroom Type 2 | 3 | Second |
| Washroom Type 3 | 3 | Third |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Multiplex |
| Style: | 3-Storey |
| Exterior: | Brick |
| Garage Type: | None |
| (Parking/)Drive: | Available, |
| Drive Parking Spaces: | 6 |
| Park #1 | |
| Parking Type: | Available, |
| Park #2 | |
| Parking Type: | Available |
| Park #3 | |
| Parking Type: | Private |
| Pool: | None |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 3500-5000 |
| Property Features: | Park, School Bus Route |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | N |
| Heat Type: | Baseboard |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
| Utilities-Cable: | A |
| Utilities-Hydro: | Y |
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| Although the information displayed is believed to be accurate, no warranties or representations are made of any kind. |
| COLDWELL BANKER FIRST OTTAWA REALTY |
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|
Sumit Chopra
Broker
Dir:
647-964-2184
Bus:
905-230-3100
Fax:
905-230-8577
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At a Glance:
| Type: | Freehold - Multiplex |
| Area: | Lanark |
| Municipality: | Smiths Falls |
| Neighbourhood: | 901 - Smiths Falls |
| Style: | 3-Storey |
| Approximate Age: | 100+ |
| Tax: | $3,411 |
| Beds: | 8 |
| Baths: | 6 |
| Fireplace: | N |
| Pool: | None |
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