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$ 1,150,000
Est. payment | /mo
5 Beds
4 Baths
$ 1,150,000
Est. payment | /mo
5 Beds
4 Baths
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100 - 1500
Subdivision Saugeen Shores
MLS® Listing ID X14082762
Bedrooms 5
Property Description
Discover a rare opportunity to own a versatile income-producing property in a highly desirable central location in Port Elgin. Situated on a generous double lot measuring 132 ft x 132 ft, this unique property features a charming yellow brick duplex with a 2-bedroom upper unit and a one-bedroom main-level unit, plus two additional one-bedroom winterized cabins. Ample parking for all units. Offered turnkey with established rental income. Ideally located within walking distance to the main beach and just one street back from the main strip, this property offers convenient access to local restaurants, pubs, shopping, and other amenities. The prominent corner lot and substantial land size add to its appeal, presenting an exciting opportunity for investors looking to maximize rental income while exploring future redevelopment possibilities. With its combination of existing cash flow, desirable location, and generous lot size, this property offers excellent potential for a variety of investment strategies. Explore the possibilities for multi-unit residential development and townhouses, and relocate the cottages to another site, as they are suitable for additional rental units. There is the potential of up to 24 units, subject to municipal zoning, applicable regulations, and approvals. Whether you're looking to expand your rental portfolio, invest in a sought-after beachside community, or secure a property with long-term development potential, this is an opportunity you won't want to miss! (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Forced air, ,
Cooling Window air conditioner
Exterior
Parking Features Yes
Community Features Community Centre
View Y/N No
Attached Garage Yes
Total Parking Spaces 9
Garage Yes
Private Pool No
Building
Story 1.5
Sewer Sanitary sewer
Others
Virtual Tour https://youtu.be/b9pYjNyQt5o
Listed by RE/MAX Land Exchange Ltd.
Nearby Locations
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4145 North Service Rd Unit: Q 2nd Floor L7L 6A3, Burlington, ON, Canada