261 HOTCHKISS Street, Gravenhurst, ON

Description

TRIPLEX income property in central Gravenhurst! Charming home converted to three units with RM1 zoning on quiet street just 2 blocks from the downtown main street. Features include Unit 1) spacious 2-bedroom open concept Kitchen, dining and living room with bedroom on the main level and large bedroom and bathroom on second floor; Unit 2) a 2-bedroom unit with living room. kitchen, bathroom and a bedroom on the main level and a bedroom and den on the lower level; Unit 3) bachelor unit accessible from side deck. There is a detached garage, two driveways and large treelined yard. Steps from Parks, Lake Muskoka, Gull Lake, Beaches, Steamship Wharf, Downtown, Opera House, Library, Schools, YMCA and all the best of Muskoka Living. Net Operating Income $38,689 with a CAP Rate of 6.8% at list price. Over $30,000 in recent upgrades including some new flooring, showers and bathroom fixtures, appliances, painting, eavestroughs and tree removal. Buy as an investment property or move into one unit with income from the other two units or convert back to a family home with an accessory unit.