Description

 Price: $ 749,000.00 MLS^®: N13133278         Location : 37 Newbury Drive, Newmarket, ON L3Y 4P9

Skip the major renos, permits, and tenant search! This is a turnkey legal 2-unit property (listed on the Town of Newmarket's registry) in a mature, transit-friendly neighbourhood. Upper unit consist of 3 bedrooms and 1 bath, lower unit, 2 bedrooms and 1 bath- both units were beautifully renovated in 2021 with modern finishes and highly functional layouts! The property is currently leased as a single unit at a strong market rate, generating nearly $50,000 in Gross Rental Income with an exceptional Net Operating Income (NOI). Occupied by a responsible professional tenant and family that have expressed a strong desire to remain in place, this asset provides a new owner with immediate, built-in income and the future flexibility of its legalized two-unit zoning. This is a fantastic opportunity for an investor seeking an income-producing asset where the updates and legal status are already secured. Newmarket offers a complete lifestyle with access to major amenities, including Upper Canada Mall, Costco, and Southlake Regional Health Centre. The area is well-connected for easy travel throughout the GTA with quick access to Highway 404 and within walking distance to Viva Transit and the GO station, making commuting convenient and reliable.. Pictures were taken prior to the existing tenants. Photos virtually staged.

Location Description

Yonge Street and Davis Drive

Property Details

• Community: Bristol-London
• Property Type: Tenant/Residential Freehold
• Bedrooms: 5
• Bath: 2
• Garages: Carport

Building Features

• Foundation Type: Concrete
• Construction Material: Brick-Stone
• Total Parking Space: 4

Features

• Heating: Forced Air Gas
• Sewer: Sewer ,

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