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3-5 Mary ST N Smiths Falls, ON K7A 3R6
7 Beds
4 Baths
9,031 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision 901 - Smiths Falls
MLS Listing ID X13874990
Style 2-Storey
Bedrooms 7
Annual Tax Amount $3,919
Tax Year 2026
Lot Size 9,031 Sqft
Property Sub-Type Duplex
Property Description
INVESTOR OPPORTUNITY! Income-producing two-unit property offering strong current rental income, substantial recent capital investment and future value-add potential. The two fully renovated units generate $4,375/month in current gross rent, or $52,500 annually, with 0% current vacancy/credit loss and a history of rents being paid on time or early. Improvements and repairs over the past 3-4 years, including fully renovated units, new appliances, replacement windows, newer furnaces, plumbing improvements, basement sump pumps and additional updates.The 4-bedroom, 1.5-bath unit at 3 Mary features a fenced backyard, parking, unfinished basement and furnace installed in 2024. The 3-bedroom, 1.5-bath unit at 5 Mary offers a large fenced backyard, generous driveway parking, unfinished basement and furnace installed in 2024. Tenants pay gas and hydro directly, while lawn/yard maintenance and snow removal are tenant responsibilities.The property offers approximately $52,500 in current annual gross rental income and a 10.50% gross rental yield based on the 2024 appraised value of $500,000. Potential future upside may include rental optimization, additional property improvements and investigation of severance/land-use potential, subject to municipal approvals and due diligence.An excellent opportunity for investors seeking an established income-producing property with significant recent improvements and potential for further value creation.
Location
Province ON
County Lanark
Area Lanark
Rooms
Family Room No
Basement Unfinished
Kitchen 2
Interior
Interior Features Storage
Cooling Window Unit(s)
Fireplace No
Heat Source Gas
Exterior
Pool None
Roof Type Asphalt Shingle
Lot Frontage 66.0
Lot Depth 132.0
Total Parking Spaces 6
Building
Foundation Stone
Others
ParcelsYN No
Listed by ROYAL LEPAGE PERFORMANCE REALTY