206 Parkview Crescent,Newmarket (Central Newmarket), ON L3Y2C8
Newmarket (Central Newmarket), ON L3Y2C8
Description
THE ULTIMATE WEALTH-GENERATING ASSET IN CENTRAL NEWMARKET100% FULL VACANT POSSESSION ON CLOSINGWelcome to a premium house and a great asset in Newmarket's prime Yonge & Davis corridor. The property generates about $90,000 rental income annually. Whether you are an institutional investor adding a high-yield vehicle to your portfolio, or a smart homeowner looking to completely eliminate your housing costs via "house-hacking," this property stands entirely in a league of its own.THE LAND VALUE: Sprawling across an oversized, mature 60 ft x 121 ft premium lot, the property backs onto a tranquil ravine. Real estate is about location and land-and a 60-foot ravine lot in the heart of York Region offers massive future appreciation and development protection.THE CONFIGURATION:Main Level: Bright, spacious, updated 4-bedroom layout featuring principal rooms and large windows with the views of the ravine.Lower Level: Two separate, fully self-contained rental suites. Bright, comfortable, and designed to minimize turnover.THE FINANCIAL METRICS: Currently operating at a gross annual yield of approx. $90,000 across three tenancies. For an end-user, this income is large enough to offset your mortgage qualifications, effectively allowing you to occupy a premium detached ravine home in Newmarket completely free while your tenants pay down your principal.THE LOCATION: Unbeatable transit and commercial footprint. Walk to Upper Canada Mall, immediate access to the Yonge St & Davis Dr transit corridors, minutes to the Newmarket GO Station, Southlake Health Centre, major stores, plazas, supermarkets and top-tier neighborhood schools.CHOOSE YOUR CLOSING: The seller offers ultimate contractual flexibility to suit your profile. Retain the outstanding, low-maintenance good tenants for an uninterrupted stream of revenue from day one, OR receive contractually guaranteed 100% full vacant possession on closing to choose your own market rents or move your extended family right in. (id:13843)
Details
| MLS # | N13497606 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Status | Active |
| Days On Site | 132 |
| Listing Provided By | CENTRAL HOME REALTY INC. | SYRUS FARZAMI |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 1,500 |
| Basement | Y |
| Pool | Yes |
| Story(s) | 1 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Water meter |
| Fireplace Yes / No | Yes |
Exterior
| Foundation Details | Block |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 6206 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Newmarket (Central Newmarket) |
| Postal Code | L3Y2C8 |
| Listing VS Median (in L3Y2C8) | |
Price: $1,258,000 low | high Med: $1,258,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $839 low | high Med: $839 On site: 132 low | high Med: 132 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Newmarket (Central Newmarket) |
| Postal Code | L3Y2C8 |
| Listing VS Median (in L3Y2C8) | |
Price: $1,258,000 low | high Med: $1,258,000 sqft: 1,500 low | high Med: 1,500 $ / sqft: $839 low | high Med: $839 On site: 132 low | high Med: 132 | |
