+35 more
5
Bedrooms
3
Bathrooms
2,500 sqft
Living Area
7,542 sqft
Lot
3
Parking
About This Property
This 5-bedroom, 3-bathroom multi-family in Whitchurch-Stouffville offers 2,500 sqft of living area on a 7,542 sqft lot. 2 storeys. The property has lot dimensions of 94.4 x 78.6 FT, cross street Main/10th Line, zoned RN(5). The home features laminate and carpeted flooring, forced air, natural gas heating, central air, a unfinished basement.
MLS Remarks
FULLY LEGAL TRIPLEX (POTENTIAL SIX-PLEX). Attention Investors & Builders - Rare Value-Add Opportunity! Own a fully legal triplex with immediate rental income and APPROVED plans to expand to a six-plex - all at an attractive entry price. This property features three existing legal units with solid tenants in place, providing stable cash flow from day one. Located on a newly rezoned RN5 lot, the property comes with approved site plans and architectural drawings to construct an additional triplex, bringing the total to six income-generating apartments. Key planning work is already completed, allowing the next owner to move forward with building permits and unlock the site's full income potential. Multiple strategies available: build the approved addition and create a high-performing six-plex, maintain existing tenants while developing for phased growth, or modernize the current units to further increase rental revenue and overall property value. Additional opportunity: the adjacent property may also be available for purchase, creating the potential to assemble nearly 0.5 acre of land in the heart of Stouffville - a rare prospect for larger future development. Ideal for investors seeking scalability - secure today's income while planning tomorrow's expansion. Guidance with project financing and commercial mortgage options may be available to qualified buyers. Strong rental demand, development upside, and long-term growth potential all in one property. A rare opportunity to control both immediate cash flow and future value. (id:60351)
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