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Royal LePage
Royal LePage
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$990,000

5+1 Beds

4 Baths

2500 - 3000 FEETSQ

QuickQuoteTM: $820K - $998K

Clarington (Bowmanville) ON, L1C 1M5

MLS® # E12418974

Property Information:

Investment Opportunity with 6.3% Cap Rate. This 4-unit property is situated on a 13,433 sq. ft. corner lot. The oversized 0.308-acre lot provides parking for up to 12 vehicles, along with a detached garage that offers additional income potential. The property features 4 self-contained rental units, each with private entrances and outdoor spaces, including a rooftop terrace. The units consist of a 79A Coach House (Large 1 Bedroom Unit @ $1,850/month), Upper Unit ( Vacant 2 Bedroom Unit @ $2,200/month), Basement Apartment (Bachelor Unit @ $1,450/month), and Side Unit (Large 1 Bedroom Unit $1,500/month), generating a total rental income of $7,000 per month ($84,000 annually). This property achieves a strong 5.8% cap rate, making it an excellent cash-flowing investment. Investors will also appreciate the opportunity to further increase net operating income by raising rents and transitioning leases to exclude utilities and hydro. Recent updates include all new electrical wiring (2013), a new roof membrane on 79A and the rooftop terrace (2015), hardwood, fresh paint, and a cleared and maintained parking lot. Included in the sale are 4 fridges, 4 stoves, 1 dishwasher, 2 washers and 2 dryers, 4 window A/C units, and 3 sheds. Located in the heart of historic downtown Bowmanville, just blocks from the hospital that will be undergoing an expansion to double its size, this property provides both immediate rental income and long-term growth potential. Clarington itself is a rapidly growing municipality, with major infrastructure projects such as new highways and GO Train stations expected to support further residential, commercial, and industrial expansion. Significant increases in building permit values highlight strong investment and development activity, especially in residential construction. Updated economic development strategies ensure the town is well-positioned to capitalize on future growth. (id:27)

Building Features:

  • Style: Detached
  • Building Type: House
  • Air Conditioning: Yes
  • Basement Development: Finished
  • Basement Type: N/A, N/A
  • Construction Style - Attachment: Detached
  • Exterior Finish: Brick
  • Fireplace: Yes
  • Floor Space: 2500 - 3000 sqft
  • Foundation Type: Unknown
  • Heating Type: Radiant heat
  • Heating Fuel: Natural gas
  • Cooling Type: Window air conditioner
  • Appliances: Dishwasher, Dryer, Stove, Refrigerator

Property Features:

  • OwnershipType: Freehold
  • Property Type: Single Family
  • Bedrooms: 5+1
  • Bathrooms: 4
  • Amenities Nearby: Hospital, Park, Public Transit, Schools
  • Features: Level lot
  • Fence Type: Fenced yard
  • Floor Space (approx): 2500 - 3000 Square Feet
  • Irregular: Yes
  • Lot Depth: 165.2 Feet
  • Lot Frontage: 77.5 Feet
  • Lot Size: 77.5 x 165.2 FT ; Large Corner Lot/2 Road Fronts
  • Structure Type: Shed
  • Sewer: Sanitary sewer
  • Parking Type: Detached garage, Garage
  • No. of Parking Spaces: 13

Courtesy of: RIGHT AT HOME REALTY

REALTOR.ca  

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Location of 79 QUEEN STREET, Clarington (Bowmanville), Ontario, L1C 1M5

Demographic Information of 79 QUEEN STREET, Clarington (Bowmanville), Ontario, L1C 1M5

Life Stage

Families with Tweens

Employment Type

Mixed

Average Household Income

$113,441.36

Average Number of Children

1.64

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

18.77 %

High school certificate or equivalent

35.3 %

Apprenticeship trade certificate/diploma

7.73 %

College/non-university certificate

22.97 %

University Degree

15.22 %

Commuter

Travel To Work

By Car

84.02 %

By Public Transit

3.05 %

By Walking

7.46 %

By Bicycle

0.0 %

By Other Methods

5.47 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

36.35 %

Houses

63.65 %

Own Vs. Rent

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