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3-5 MARY STREET N, Smiths Falls, Ontario

7 Beds 4 Baths
$509,900
3-5 MARY STREET N Smiths Falls
3-5 MARY STREET N Smiths Falls
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  • 3-5 MARY STREET N Smiths Falls
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Listing ID: X13874990 Property Type: Multi-family

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. (id:25961)

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Details

  • Equipment: Water Heater
  • Features: Irregular lot size
  • Parking Spaces: 6
  • Rental Equipment: Water Heater
  • Transaction: For sale
  • Zoning Description: R3

Building

  • Appliances: Dryer, Two stoves, Two Washers, Two Refrigerators
  • BasementType: N/A (Unfinished)
  • Basement Development: Unfinished
  • Bedrooms Main Level: 7
  • Cooling: Window air conditioner
  • Exterior Finish: Steel
  • Fireplace Present: False
  • Foundation: Stone
  • Bathrooms (Half): 2
  • Bathrooms (Total): 4
  • Heating: Forced air
  • Heating Fuel: Natural gas
  • Size Interior: 2500 - 3000 sqft
  • Stories Total: 2
  • Type: Duplex
  • Utility Water: Municipal water

Land

  • Sewer: Sanitary sewer
  • Size Frontage: 66 ft
  • Size Irregular: 66 x 132 FT
MLS®

Listing provided by ROYAL LEPAGE PERFORMANCE REALTY
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 3-5 MARY STREET N in Smiths Falls Ontario. It was last modified on October 8th, 2026. Contact Tim McLean to schedule a viewing or to discover other Smiths Falls homes for sale.

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