$999,500
FOR SALE

Detached

Bedrooms: 4Bathrooms: 3Lot: 53 x 97 ft

520 Elizabeth Street
Midland, ON L4R 2A1

TURN KEY INCOME PROPERTY IN THE HEART OF MIDLAND. A prime investment opportunity in vibrant downtown Midland. This unique property boasts 2 spacious, turnkey 2-bedroom apartments, a detached garage, & commercial space, designed to maximize your income potential while offering an exceptional lifestyle. TWO SPACIOUS 2-BEDROOM APARTMENTS: Each apartment features a well-laid-out design with separate entrances, ensuring privacy and convenience for tenants. Both units are fully rented on month-to-month leases, offering immediate rental income: DETACHED GARAGE: Additional rental income potential with a fully rented detached garage: COMMERCIAL SPACE: The commercial space is currently leased to the successful Laundry Boutique called Downtown Laundry. You can purchase the building and land and lease to the existing business or buy the Laundry Boutique business separately for an added income stream. LOCATION, LOCATION, LOCATION: PRIME DOWNTOWN LOCATION: Situated in the heart of downtown Midland, this property is within walking distance to charming shops, delightful restaurants, the town dock, and waterfront trails perfect for biking, walking, and rollerblading. QUAINT AND SCENIC: Enjoy the quaint ambiance of Midland, set on the picturesque shores of Georgian Bay. The area offers a perfect blend of small-town charm and modern conveniences: INVESTMENT POTENTIAL: HIGH DEMAND RENTAL AREA: Midland's downtown area is a sought-after location, ensuring high demand for rental properties: FLEXIBLE PURCHASE OPTIONS: Whether you choose to lease the commercial space to the current owner or purchase the thriving Laundry Boutique business, the income potential is substantial. Don't miss this exceptional opportunity to invest in a thriving community with a strong rental market and a vibrant downtown lifestyle. For more details and a financial breakdown, contact us today. Explore the possibilities of owning a successful business or enjoying a steady rental income in beautiful Midland. (id:47421)
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Listed By Revel Realty Inc., Brokerage (Tiny), Revel Realty Inc., Brokerage (Unit A)
Data Provided By The Lakelands Association of REALTORS®
MLS® Listing Number 40593190
Last Updated Jun 18, 2024
Property Summary
Property Type Detached

More like this:
Subdivision MD01 - East of King Street
Price History

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Detailed Information
Bedrooms 4
Bathrooms 3
Lot 53 x 97 ft
Amenities Nearby Park, Public Transit, Shopping
Community Features Community Centre
Listing Contract Date 2024-05-22
Location Description King to Elizabeth (between King and First Streets)
Ownership Type Freehold
# of Parking Spaces 2
Property Type Single Family
Transaction Type For sale
Zoning Description DC-F2
Building
Basement Development Unfinished
Basement Type Full (Unfinished)
Construction Style (Attachment) Detached
Cooling Type None
Exterior Finish Brick, Vinyl siding
Foundation Type Stone
# of Half Bathrooms 1
Heating Fuel Natural gas
Heating Type Hot water radiator heat
Stories Total 1.5
Type House
Utility Water Municipal water
Rooms
Room Level Dimensions Notes
BedroomSecond level16'6'' x 10'0''
BedroomSecond level13'0'' x 7'11''
4pc BathroomSecond levelMeasurements not available
Living roomSecond level17'0'' x 12'9''
KitchenSecond level14'3'' x 10'0''
Utility roomMain level13'2'' x 12'0''
2pc BathroomMain levelMeasurements not available
Laundry roomMain level25'9'' x 13'2''
SunroomMain level19'5'' x 5'6''
4pc BathroomMain levelMeasurements not available
BedroomMain level13'4'' x 10'6''
BedroomMain level12'0'' x 11'9''
Eat in kitchenMain level19'6'' x 10'4''
Living roomMain level15'8'' x 11'8''
Parking Spaces
Name Spaces
Detached Garage
Land
Total Size under 1/2 acre
Amenities Park, Public Transit, Shopping
Sewer Municipal sewage system

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