!!QUICK CLOSE!! Legal Duplex Flip or Rental Opportunity in Cornwall!! Available

  • $250,000
  • 3 beds
  • 2 baths
  • 1100-1499 sqft
This is a great income opportunity to own an up & down duplex in Cornwall. This duplex offers a smaller backyard, but a large driveway big enough to fit 4 cars!! This property is in close proximity to schools, the main shopping district and a quick 10 minute bike ride to Lamoureux Park, which runs along the shoreline of the St. Lawerence River. While being close to many different amenities in the area, access to highway 401 is only a 5 minute drive away, along with this property being only a 1 hour commute to both Montreal and Ottawa. Overall, these units have been well-kept and would only need some updates, if desired. This is a great deal — you do not come across a duplex for $250,000 that does not require a lot of work often, so don’t miss this one!!

We are selling our assignable purchase contract.

Closing is March 30th, 2022
*As per our APS, the Buyer agrees to assume tenant and does not require vacant possession upon closing.*

**As per our APS, the Seller agrees to provide the Buyer the following within ten business days; the current monthly rent, date tenancy commenced, due date for rent, date of last rental increase, prepaid amounts on deposit and copy of written tenancy agreement.**

PROPERTY FEATURES
Please note: This property has not been viewed in person by our Acquisition Rep. The Buyer is to verify all below information and do their own due diligence.

  • 2-storeys
  • 3 bedrooms + den
    • 2 bedrooms are located located in Unit 1
    • 1 bedroom + den are located in Unit 2
      • The den in Unit 2 is large enough to be utilized as a second bedroom (as per Seller)
  • 2 full bathrooms (as per Seller)
    • 1 full bathroom located in Unit 1
    • 1 full bathroom located in Unit 2
  • Built in 1927
  • Above grade: 1100-1499 sq ft (as per MPAC)
  • Crawl space: 0-399 sq ft (as per MPAC)
  • All appliances will be included
  • Flooring: vinyl, carpet
  • 200 AMP breaker panel (as per Seller)
  • 2 gas furnaces are both owned (as per Seller)
    • Electric baseboard heaters can also be found throughout both units, and are functional (not in use, as per Seller)
  • HWT is owned (as per Seller)
  • No central AC
  • 1 gas meter (as per Seller)
  • Parking for 4 cars on the driveway
    • Each unit is allowed 1 parking space on the driveway (as per Seller)
  • On municipal services
  • Lot size: 50.00 ft x 99.85 ft (as per MPAC)
  • Site area: .11A (as per MPAC)
  • Zoning: RES20 (as per MPAC)

UNIT BREAKDOWN
Please note: Both units are currently tenant-occupied, and the Buyer is obligated to assume the current tenants upon closing.

Unit 1:

  • Rent: $775/month + landlord pays the utilities, on a month-to-month lease (as per Seller)
  • Located on the main floor of this property
  • 2 bedrooms
  • 1 full bathroom
  • 1 parking space allowed on the driveway

Unit 2:

  • Rent: $750/month + landlord pays the utilities, on a month-to-month lease (as per Seller)
  • Located on the second floor of this property
  • 1 bedroom + den (as per Seller)
    • Den is large enough to be a second bedroom (as per Seller)
  • 1 full bathroom (as per Seller)
  • 1 parking space allowed on the driveway

MONTHLY EXPENSES BREAKDOWN
(Buyer to verify all information)

  • Gas: ~$152/month
  • Hydro: ~$170/month
  • ~$5500/year total in expenses (includes heat, hydro, insurance, property taxes, as per Seller)

PROPERTY NEEDS

  • Cosmetic updating
  • Unit 1 has water damage on the ceiling — located in main living area (Buyer to verify)

Please click HERE for more pictures and information.

Price:
$250,000
Address:
Eleventh St W & Cumberland St
Cornwall, ON
Square Feet:
1100-1499
Lot Size:
50.00 ft x 99.85 ft
Bedrooms:
3
Bathrooms:
2
Terms:
Assignment of Contract
Property Type:
Duplex
Year Built:
1927

Call 647-370-0820 for more details

Property Location