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1 MELISSA STREET, Parry Sound — listed at $950,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Exceptional 4 Plex Investment Opportunity in the thriving Town of Parry Sound. Fantastic offering at an 8+ cap rate. This well maintained, purpose built fourplex offers a rare combination of strong income potential, low maintenance ownership, and long term investment stability in the heart of Northern Ontario cottage country. Featuring three spacious 3 bedroom units and one 1 bedroom unit, all separately metered for hydro, this solid asset is ideally positioned close to the hospital, vibrant downtown core, and the breathtaking shores of Georgian Bay. Built in 1991 with notable updates including windows and shingles, this property offers reliable cash flow with established long term tenants already in place. Ample front and rear parking further enhances tenant convenience and desirability. An outstanding opportunity for investors seeking to expand their portfolio with a high performing multi residential asset in a growing and highly desirable community. The building has total 4 units. 3 units are 3 bed room with 13x13 Hall and kitchen; 10x13 Bedroom 1 ; 9.6x12 bedroom 2 9.6x10 bedroom 3. Three units fully renovated in June 2025 with high-quality modern finishes (1) Vinyl flooring installed throughout all units (2) Brand new plumbing and fixtures (3) New kitchen upgrades including cabinets, fridge, stove, and fittings (3) Newly renovated bathrooms with contemporary finishes. Freshly painted interiors throughout (4) New washer and dryer installed (2025) (5) Tenants currently in place (6) All utilities paid by tenants, ensuring efficient operating costs (7) Each unit features a separate private entrance (8) Ample parking with 2- car parking available per unit. One unit is one bedroom: - The tenant is planning to move soon. Can be easily converted to 2 bedroom unit. Increasing rental value. (id:60164)
Is 1 MELISSA STREET a good fit for a growing family?+
With 10 bedrooms and 4 bathrooms, there's room for kids plus a guest room or home office. The 2-storey layout keeps living and sleeping areas separated.
How is the home heated? Is it efficient?+
Heating is baseboard heaters, electric. Electric heating can mean higher winter bills — ask for past utility statements.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 10 bedrooms and 4 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Does it have a basement, and is it finished?+
The listing describes the basement as: None. Confirm the finishing status during a showing — it affects both livable space and resale value.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $5,215, heating is baseboard heaters, electric. Always verify the latest figures with your agent before making an offer — these change yearly.
What's the parking situation?+
This property includes 7 spaces — No Garage.
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