119 Albert St S

VTB available! WOW! $100,000 VTB, this could be your opportunity to get into real estate ownership or add to your investment portfolio. A recently updated / newly created 2 unit (in 2020), residential home, with a secondary unit (in-law) suite. Updated kitchens, bathrooms and flooring in both units. Each unit a spacious 1 bedroom. Provides strong income. Upper unit $1,500 per month all inclusive. Ground floor unit $1,800 per month all inclusive. Please note this is not a legal duplex however is zoned R2, thereby permitting a legal duplex. Buyer to acknowledge current building status, certainly can work with City of Orillia to create a legal duplex. Recent changes to the high density direction from Ontario government, this property is within an area of City of Orillia high density residential plans combined with such a large Lot 47' X 165', the potential to develop a Tri-plex or 4-plex would be worth the investigation. Property has 2 driveways. Windows and roof shingles have also been updated. Upper unit is accessed via exterior stair case and a large upper balcony. Ground floor unit has access at front door or back entrance off of generous sized back deck. Large undeveloped Lot space behind the building, of the remaining 165' depth, ideal for an extension of the existing house or build a separate garden house for additional rental income. Currently, both Tenants do want to stay, you can continue to collect the very strong (higher than market) rental income for 1 bedroom units or if you want to use for Owner Occupied, Seller would consider working through the process to provide Vacant Occupancy. (id:22211)