$990,000
Available - For Sale
Listing ID: E12418974
79 Queen Street , Clarington, L1C 1M5, Durham
| Investment Opportunity with 6.3% 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. |
| Price | $990,000 |
| Taxes: | $5692.00 |
| Occupancy: | Tenant |
| Address: | 79 Queen Street , Clarington, L1C 1M5, Durham |
| Directions/Cross Streets: | Liberty & Queen |
| Rooms: | 10 |
| Rooms +: | 3 |
| Bedrooms: | 5 |
| Bedrooms +: | 1 |
| Family Room: | T |
| Basement: | Apartment, Finished |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | Basement |
| Washroom Type 2 | 4 | Main |
| Washroom Type 3 | 3 | Main |
| Washroom Type 4 | 4 | Second |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 4 | Basement |
| Washroom Type 7 | 4 | Main |
| Washroom Type 8 | 3 | Main |
| Washroom Type 9 | 4 | Second |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 4 | Basement |
| Washroom Type 12 | 4 | Main |
| Washroom Type 13 | 3 | Main |
| Washroom Type 14 | 4 | Second |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 4 | Basement |
| Washroom Type 17 | 4 | Main |
| Washroom Type 18 | 3 | Main |
| Washroom Type 19 | 4 | Second |
| Washroom Type 20 | 0 | |
| Washroom Type 21 | 4 | Basement |
| Washroom Type 22 | 4 | Main |
| Washroom Type 23 | 3 | Main |
| Washroom Type 24 | 4 | Second |
| Washroom Type 25 | 0 |
| Total Area: | 0.00 |
| Property Type: | Detached |
| Style: | 2-Storey |
| Exterior: | Brick |
| Garage Type: | Detached |
| (Parking/)Drive: | Private |
| Drive Parking Spaces: | 12 |
| Park #1 | |
| Parking Type: | Private |
| Park #2 | |
| Parking Type: | Private |
| Pool: | None |
| Other Structures: | Garden Shed |
| Approximatly Square Footage: | 2500-3000 |
| Property Features: | Fenced Yard, Hospital |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | Y |
| Heat Type: | Radiant |
| Central Air Conditioning: | Window Unit |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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At a Glance:
| Type: | Freehold - Detached |
| Area: | Durham |
| Municipality: | Clarington |
| Neighbourhood: | Bowmanville |
| Style: | 2-Storey |
| Tax: | $5,692 |
| Beds: | 5+1 |
| Baths: | 4 |
| Fireplace: | Y |
| Pool: | None |
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