This newly and custom built (2012) house on a tree lined side street in the Annex is available for sale now. This could be a great pure investment property or you could rent out 2 of the 3 apartments while you live here for nearly nothing.
The owner currently lives on the ground floor in a beautiful one bedroom apartment while she rents out the completely separated lower level and the upper level three bedroom apartments to visiting professionals on Airbnb.ca with no vacancies. If the short-term rental situation that is done on Airbnb makes you nervous, you could go with normal longer term tenants. 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. 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. The double car garage could be an extra source of revenue for at least $100 per space or just keep it for yourself. There are few vacancies in the downtown area (in houses, not condos) for spacious and new apartments like this. 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. This is a very lucrative option but it comes with a different set of circumstances. 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. I am not gone with the sale. You are not on your own to handle the rental process. I’ll be there for you during the rental process and handle the first time rentals for no extra charge. That means I will take care of the advertising, the phone call inquiries, the visits to show the apartment and the documentation. All you need to do is cash the cheques.
In addition to the location and quality workmanship, this house has approximately 5 years remaining of it’s Tarrion Warranty. Visit their website to understand what this means to you as the buyer. 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.