Homes for sale - 22 DOLLARD STREET, Russell, ON K0A1W0

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Lauren Crouse

lauren@laurencrouse.com +1(403) 819-7709

$ 795,000

Est. payment | -/mo

6 Beds

2 Baths

1,100 SqFt

Save Virtual Tour

$ 795,000

Est. payment | -/mo

Save Virtual Tour

6 Beds

2 Baths

1,100 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 1,100 sqft

Price per Sqft $722

Subdivision 602 - Embrun

MLS® Listing ID X12146215

Style Raised bungalow

Bedrooms 6

Source Ottawa Real Estate Board

Property Description

Discover this impeccably designed legal duplex in Embrun offering exceptional value and strong rental income. The upper-level flagship unit is a beautifully renovated 3-bedroom home. Thoughtfully updated with care and attention to detail, this unit stands out as one of the premier rentals in Embrun. The newly constructed lower-level apartment is equally impressive -- a bright and modern 3-bedroom unit. Together, both units are rented (no vacancy) to generate a robust monthly income of $4,200, translating to over $50,000 annually. Heat/Hydro is separately metered so as the new property owner, you pay only water. The extra-large 1/3rd acre property lends well to future development -- extensions, outbuildings, carriage homes, and more! This is an excellent land parcel to take advantage of the More Homes Built Faster Act, 2022 (also known as Bill 23) as part of Ontarios goal of building 1.5-million new homes in under 10 years. Annual Income $50,415. Annual Expenses: Water $1,550, Insurance $1,673, Tax $3,570 = Total $6,793. Net Income $43,622. Cash flow before finance $3,635 per month. On reasonable financing terms the monthly cashflow is $800+ per month. This investment opportunity is hard to beat. If long-term growth is 4-5% per year, this duplex could be worth $1.43-1.65 million in 15 years, and $2.58-3.44 million in 30 years when paid in full. Cashflow in the interim should greatly exceed $500,000. This equates to a potential return of $3-4 million from todays $159-238k downpayment. Consider adding 22 Dollard Street in Embrun as a flagship property and long-term staple to your portfolio. Note: Financials discussed in the video are outdated; please refer the the updated numbers listed here. Photos taken prior to current tenancies. (id:24570)

Location

Province ON

Rooms

Kitchen 1.0

Extra Room 1 Basement 3.34 m X 2.64 m Kitchen

Extra Room 2 Basement 3.56 m X 2.95 m Dining room

Extra Room 3 Basement 3.56 m X 2.99 m Living room

Extra Room 4 Basement 4.27 m X 3.69 m Bedroom

Interior

Heating Radiant heat

Cooling Wall unit

Exterior

Parking Features Yes

View Y/N No

Total Parking Spaces 6

Private Pool No

Building

Story 1

Sewer Sanitary sewer

Architectural Style Raised bungalow

Others

Virtual Tour https://www.youtube.com/watch?v=eWy3zxVZV5k

Listed by KELLER WILLIAMS INTEGRITY REALTY

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(403) 819-7709

lauren@laurencrouse.com

Canada

22 DOLLARD STREET Russell, ON K0A1W0