About this property

Located in a mature Georgetown neighborhood, this legal non-conforming Boarding/lodging home delivers impressive value with income potential and long-term growth prospects. Offering 10 bedrooms above grade and more than 2,000 square feet of living space, this property is ideal for investors seeking strong cash flow and multiple rental configurations. Positioned near the heart of town, it is just an eight-minute drive to the Georgetown train station and a 10-minute walk to shops, and amenities-making it highly attractive to prospective tenants. The property currently produces a ROI with stable, long-term tenants whom are willing to remain, ensuring immediate returns. Additionally, the spacious layout provides an opportunity to enhance rental income through renovations or by accommodating larger tenant groups. The basement adds approximately 560 square feet of partially finished space, including two additional washrooms requiring renovation-offering additional living space. Upgrades include roof (2017), vinyl windows less then 15 years old, and laminate flooring on the second floor (2014) and main floor (2015). Licensed as a boarding and lodging establishment since 1991, this property also benefits from a driveway updated in 2013 with furnace and A/C updated 2023. With strong financials, ongoing tenant demand, and multiple value-add opportunities, this legal non-conforming rooming house stands out as a rare high-yield investment to match today's standards, this property can offer a great supplement to income or help pay for mortgage, maintenance and utilities. (id:13843)

Features and Additional Information