This newly and custom built (2012) house on a tree lined side street in the Annex is available for sale now. Â This could be a great pure investment property or you could rent out 2 of the 3 apartments while you Â live here for nearly nothing.
The owner currently lives on the ground floor in a beautiful one bedroom apartment while she rents out theÂ completely separatedÂ lower level and the upper level three bedroom apartments to visiting professionals on Airbnb.ca with no vacancies. Â If the short-term rental situation that is done on Airbnb makes you nervous, you could go with normal longer term tenants. Â Either way, you would be getting this property as vacant, so that YOU can pick your own tenants and get the current market rent.
With the minimum 20% down (or about $300,000), this house would carry for approximatly $4734 per month (plus taxes, utilities and insurance). The upper three bedroom apartment would easily rent for at least $2500-$3000 per month (possibly more) and the lower level would rent for at least $1800 per month. Â Which would leave you living in the ground floor apartment for just about free or rent out that ground floor apartment for an extra $2000+ per month. Â The double car garage could be an extra source of revenue for at least $100 per space or just keep it for yourself. Â There are few vacancies in the downtown area (in houses, not condos) for spacious and new apartments like this. Â This area demands a high quality tenant with whom you can expect no problems.
If you are a little more brave, you could consider renting out the suites as short-term rentals on Airbnb.ca as the current owner does. Â This is a very lucrative option but it comes with a different set of circumstances. Â I’m happy to explain this option in detail when we speak.
When buying through me, you still have me on your side after the purchase. Â I am not gone with the sale. Â You are not on your own to handle the rental process. Â I’ll be there for you during the rental process and handle the first time rentals for no extra charge. Â That means I will take care of the advertising, the phone call inquiries, the visits to show the apartment and the documentation. Â All you need to do is cash the cheques.
In addition to the location and quality workmanship, this house hasÂ approximatelyÂ 5 years remaining of it’s Tarrion Warranty. Visit their website to understand what this means to you as the buyer. Â This is a unique opportunity to own a custom built home in the downtown area.
If this property piques your curiosity at all, please give me a call to discuss it further or for a visit.