$497,000

WOW! Price reduction. Seller is motivated. $100,000 VTB available, this could be your opportunity to get into real estate ownership. Great opportunity for 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 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, there by permitting a legal duplex. Buyer to be aware of 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 coupled 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 also recently 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 general back deck. Large undeveloped Lot space behind the building, of the remaining 165' depth, ideal for an extension of the existing house or a separate garden house. Currently, both Tenants do want to stay, you can continue to collect the strong 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:44523)

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https://www.realtor.ca/real-estate/25978896/119-albert-street-s-orillia