$849,000

Hanover ON, N4N 2J7

MLS® # 40748580

Property Information:

Amazing investment opportunity. A fully-renovated triplex, offering a total of 3 units, each with 2 bedrooms and 1 bathroom, spanning 2200 SQFT. This property is not only occupied at market rents per unit but also comes with approved site plans to add 3 more units, doubling the income potential. Additional features include separate meters for each unit, fully renovated with new windows in the existing triplex. Building plans, permits, and a detailed proforma are readily available. This is a prime investment opportunity for both new and seasoned investors, with all the groundwork already laid out. 2021 narrative appraisal completed for potential 3 unit addition available upon request.

Inclusions: None

Exclusions : All Tenant Belongings.

Building Features:

Floor Space: 2200 Square Feet

Property Features:

Bedrooms: 6
Acres Range: < 0.5
Basement: Separate Entrance, Full, Unfinished
Built in: 1912
Construction Materials: Brick
Cooling: None
Driveway Parking: Outside/Surface/Open
Floor Space (approx): 2200 Square Feet
Heating: Natural Gas, Radiator, Other
Interior Features: Brick & Beam, None
Laundry Features: In-Suite
Lot Depth: 153 Feet
Lot Features: Rectangular, City Lot
Lot Frontage: 66.00 Feet
Roof: Asphalt Shing
Water Source: Municipal
Zoning: R1A11
Sewer: Sewer (Municipal)
No. of Parking Spaces: 8

Courtesy of: TrilliumWest Real Estate Brokerage

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Market Price Trends

Location of 552 7th Avenue, Hanover, ON, N4N 2J7

Lifestyle
Neighbourhood

Demographic Information of 552 7th Avenue, Hanover, ON, N4N 2J7

Life Stage

Later Years

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$93,680.84

Average Number of Children

1.84

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

26.5 %

High school certificate or equivalent

34.55 %

Apprenticeship trade certificate/diploma

9.03 %

College/non-university certificate

23.3 %

University certificate (below bachelor)

1.03 %

University Degree

5.59 %

Commuter

Travel To Work

By Car

85.38 %

By Public Transit

0.0 %

By Walking

13.18 %

By Bicycle

0.0 %

By Other Methods

1.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

40.3 %

Houses

59.7 %

Own Vs. Rent