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CAONSmiths Falls151 Chambers St
151 Chambers St, Home with 8 bedrooms, 6 bathrooms and 6 parking in Smiths Falls ON | Image 1
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$849,900

151 Chambers St, Smiths Falls, ON

Real Estate

For Sale

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866
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential
Size -
Garage No
Taxes $3,411
Days Active 1
Lot Size 
Approx. Age 
MLS® Number X12219098

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

This well-maintained, fully tenanted multiplex presents a strong opportunity for investors seeking a reliable income property with clear upside. Zoned R4 and located within walking distance of downtown Smiths Falls, the building includes six residential units: two 2-bedroom apartments, three 1-bedroom units, and one bachelor suite. All units save the bachelor are separately metered, with those tenants paying their own hydro. All units are heated by electric baseboard, and domestic hot water is supplied via a shared natural gas hot water tank. Two units have been recently renovated, and windows have been updated as needed over time. The property has been owned and maintained by a respected local general contractor for over 30 years, reflecting consistent care and stewardship. Key systems, including windows and the roof, have been updated as necessary over the years. With a current net operating income of $42, 070, the property delivers a cap rate of 4.95% based on existing rents. However, with rents well below market value, there is significant room for growth. A pro forma using typical local rents projects a cap rate of 7% or more, even with allowances for management and maintenance. The property includes six on-site parking spots and is located directly adjacent to a public park, with a baseball diamond just across the street. Only a short walk to the Rideau River, restaurants, shopping, and other amenities, this property combines stable income with long-term potential in one of Eastern Ontario's most accessible mid-size markets. Further photos and projected income analysis available upon request.Show Description
MLS® NumberX12219098
Laundry Level
Central VacNo
FireplaceNo
Acreage
ExteriorPorch
GarageNo
Approx. Age
BasementFull, Exposed Rock
DrivewayGarage Type:None
Garage Spaces
HeatElectric, Baseboard
A/CNone
Heating Fuel

Extras

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