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$ 1,800,000
Est. payment /mo
New
66 Prospect ST Newmarket, ON L3Y 3S9
6 Beds
5 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision Central Newmarket
MLS Listing ID N13882840
Style 2 1/2 Storey
Bedrooms 6
Annual Tax Amount $13,000
Tax Year 2026
Property Sub-Type Multiplex
Property Description
Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential! Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom bungalow at the rear, municipally known as 567 Granby Place, all included in the purchase price. The main building features three units, including commercial office space on the ground floor and two residential apartments above, offering a versatile mix of commercial and residential income streams. With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a combined potential rental income of approximately $9,000 per month ($108,000 annually), subject to market conditions. Ideally positioned just steps from Southlake Health (formerly Southlake Regional Health Centre) , historic Downtown Newmarket, Main Street's vibrant shops and restaurants, public transit, and the GO Train. Surrounded by ongoing neighbourhood growth and redevelopment activity, this property presents exciting long-term possibilities for investors, developers, and those seeking to expand their real estate portfolios. Multiple income streams offer diversification and attractive investment flexibility. Enjoy the benefits of immediate income potential, a highly desirable central location, and possible future redevelopment or intensification opportunities, subject to municipal approvals and buyer's independent due diligence. A rare opportunity to invest today while positioning yourself for tomorrow's growth!
Location
Province ON
County York
Area York
Rooms
Family Room No
Basement Separate Entrance
Kitchen 4
Interior
Interior Features Other
Cooling Wall Unit(s)
Fireplace No
Heat Source Gas
Exterior
Parking Features Private
Pool None
Roof Type Asphalt Shingle
Lot Frontage 70.0
Lot Depth 147.0
Total Parking Spaces 8
Building
Foundation Concrete Block
Others
ParcelsYN No
Listed by REMAX YOUR COMMUNITY REALTY