79 Queen Street Clarington, Ontario L1C 1M5

$1,070,000

Investment Opportunity with 5.8% Cap Rate. This 4-unit property is situated on a 13,433 sq. ft. corner lot. The oversized 0.308-acre lot provides parking for up to 12 vehicles, along with a detached garage that offers additional income potential. The property features 4 self-contained rental units, each with private entrances and outdoor spaces, including a rooftop terrace. The units consist of a 79A Coach House (Large 1 Bedroom Unit @ $1,850/month), Upper Unit ( Vacant 2 Bedroom Unit @ $2,200/month), Basement Apartment (Bachelor Unit @ $1,450/month), and Side Unit (Large 1 Bedroom Unit $1,500/month), generating a total rental income of $7,000 per month ($84,000 annually). This property achieves a strong 5.8% cap rate, making it an excellent cash-flowing investment. Investors will also appreciate the opportunity to further increase net operating income by raising rents and transitioning leases to exclude utilities and hydro. Recent updates include all new electrical wiring (2013), a new roof membrane on 79A and the rooftop terrace (2015), hardwood, fresh paint, and a cleared and maintained parking lot. Included in the sale are 4 fridges, 4 stoves, 1 dishwasher, 2 washers and 2 dryers, 4 window A/C units, and 3 sheds. Located in the heart of historic downtown Bowmanville, just blocks from the hospital that will be undergoing an expansion to double its size, this property provides both immediate rental income and long-term growth potential. Clarington itself is a rapidly growing municipality, with major infrastructure projects such as new highways and GO Train stations expected to support further residential, commercial, and industrial expansion. Significant increases in building permit values highlight strong investment and development activity, especially in residential construction. Updated economic development strategies ensure the town is well-positioned to capitalize on future growth. (id:59743)

Property Details

MLS® Number	E12418974
Property Type	Single Family
Community Name	Bowmanville
Amenities Near By	Hospital, Park, Public Transit, Schools
Features	Level Lot
Parking Space Total	13
Structure	Shed

Building

Bathroom Total	4
Bedrooms Above Ground	5
Bedrooms Below Ground	1
Bedrooms Total	6
Appliances	Dishwasher, Dryer, Stove, Two Washers, Refrigerator
Basement Development	Finished
Basement Features	Apartment In Basement
Basement Type	N/a (finished)
Construction Style Attachment	Detached
Cooling Type	Window Air Conditioner
Exterior Finish	Brick
Fireplace Present	Yes
Foundation Type	Unknown
Heating Fuel	Natural Gas
Heating Type	Radiant Heat
Stories Total	2
Size Interior	2,500 - 3,000 Ft2
Type	House
Utility Water	Municipal Water

Parking

Detached Garage
Garage

Land

Acreage	No
Fence Type	Fenced Yard
Land Amenities	Hospital, Park, Public Transit, Schools
Sewer	Sanitary Sewer
Size Depth	165 Ft ,2 In
Size Frontage	77 Ft ,6 In
Size Irregular	77.5 X 165.2 Ft ; Large Corner Lot/2 Road Fronts
Size Total Text	77.5 X 165.2 Ft ; Large Corner Lot/2 Road Fronts

https://www.realtor.ca/real-estate/28895910/79-queen-street-clarington-bowmanville-bowmanville