Excellent investment opportunity in the historic village of Sparta! This versatile five-unit commercial/residential property offers a great mix of income-producing space along with additional future potential. The main level features three separate commercial units, providing flexibility for a variety of businesses, professional services or retail uses. The second floor includes two residential apartments: a two-bedroom unit that is currently tenanted and a vacant one-bedroom unit, offering the opportunity for immediate occupancy or to select your own tenant. Also located on the second floor is a large unfinished open space that may offer potential for an additional residential unit or other use, subject to municipal approvals, zoning and required permits. The property offers ample on-site parking along with a large detached storage building at the rear, providing valuable additional space for tenants, owners or commercial users. An exceptional financing opportunity: the Seller is willing to consider a Vendor Take-Back (VTB) mortgage of up to 80% of the purchase price, subject to mutually acceptable terms and conditions. Further details are available to qualified interested parties. The current owner has resided the rear of the property, added a new accessible ramp and freshly painted the vacant apartment. With multiple income streams, a vacant residential unit, additional unfinished space and the potential for significant vendor financing, this is a unique opportunity for an investor or owner/operator looking to establish themselves in the charming community of Sparta. (id:4069)
Address
46349 SPARTA LINE
List Price
$699,000
Property Type
Retail
Transaction Type
Sale
Area
Ontario
Sub-Area
Central Elgin (sparta)
Floor Area
3,500 Sq. Ft.
Lot Size
Bldg=120 x 132 FT Sq. Ft.
Lot Depth
132 ft
Frontage Length
120 ft
MLS® Number
X13865410
Listing Brokerage
RIGHT AT HOME REALTY
Postal Code
N0L2H0
Zoning
RS-4
Parking Places (Total)
7
Appliances
Dryer, Washer
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Fully air conditioned
Sewer
Septic System
