March 25, 2024
- 10 min read
31 Bay Street Stratford, Ontario N5A 4K7
$550,000
4 Bedroom
3 Bathroom
2,000 - 2,500 ft2
None
Forced Air
Turnkey, well-maintained, bright, clean, duplex investment opportunity in a quiet, sought-after Stratford neighbourhood with excellent tenants. Fully leased with current gross annual rental income of $40,800, $3,400 monthly with NOI of ~ $32,100.The lower unit features 1 bedroom, 2 bathrooms, private laundry, and exclusive use of the basement. The upper unit offers 2 bedrooms, 1 bathroom, private laundry, and exclusive use of the finished attic. Both units have been well-maintained over the years and have benefited from thoughtful updates, including renovated kitchens. Tenants pay their own hydro (separately metered 2x100A) and water, while the landlord pays the heat. Additional features include a large backyard, potential for an ADU, storage shed, parking for up to 5 vehicles, two water heaters, and ample storage space. A rare opportunity to acquire a fully leased income property with strong in-place rents, reliable long-term tenants, and attractive investment fundamentals close to schools, parks, downtown amenities, and public transit. Contact your realtor for more details and virtual tour. Roof and balcony completed in 2018; back porch completed in 2024 (id:36109)
Property Details
| MLS® Number | X13426542 |
| Property Type | Multi-family |
| Community Name | Stratford |
| Equipment Type | Water Heater - Electric, Water Heater |
| Parking Space Total | 5 |
| Rental Equipment Type | Water Heater - Electric, Water Heater |
| Structure | Shed |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 3 |
| Bedrooms Below Ground | 1 |
| Bedrooms Total | 4 |
| Age | 100+ Years |
| Basement Development | Unfinished |
| Basement Type | N/a (unfinished) |
| Cooling Type | None |
| Exterior Finish | Brick |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 3 |
| Size Interior | 2,000 - 2,500 Ft2 |
| Type | Duplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 118 Ft ,3 In |
| Size Frontage | 40 Ft |
| Size Irregular | 40 X 118.3 Ft |
| Size Total Text | 40 X 118.3 Ft |
| Zoning Description | R2-2 |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Third Level | Den | 5.46 m | 6.4 m | 5.46 m x 6.4 m |
| Main Level | Bathroom | 2.51 m | 1.06 m | 2.51 m x 1.06 m |
| Main Level | Bathroom | 2.9 m | 1.33 m | 2.9 m x 1.33 m |
| Main Level | Bedroom | 3.47 m | 3.56 m | 3.47 m x 3.56 m |
| Main Level | Family Room | 3.03 m | 3.68 m | 3.03 m x 3.68 m |
| Main Level | Kitchen | 4.12 m | 5.12 m | 4.12 m x 5.12 m |
| Main Level | Living Room | 4.1 m | 3.41 m | 4.1 m x 3.41 m |
| Main Level | Sunroom | 5.51 m | 1.96 m | 5.51 m x 1.96 m |
| Upper Level | Kitchen | 2.91 m | 3.09 m | 2.91 m x 3.09 m |
| Upper Level | Bedroom 2 | 2.93 m | 3.47 m | 2.93 m x 3.47 m |
| Upper Level | Bathroom | 2.08 m | 1.86 m | 2.08 m x 1.86 m |
| Upper Level | Bedroom | 2.9 m | 3.59 m | 2.9 m x 3.59 m |
| Upper Level | Den | 3.42 m | 3.14 m | 3.42 m x 3.14 m |
Utilities
| Cable | Installed |
| Electricity | Installed |
| Sewer | Installed |
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31 Bay Street
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June 10 2026 06:02:51
