1 Simcoe Street, Penetanguishene, Ontario L9M 1V2

Incredible Investment Opportunity Ready For Immediate Possession. Conveniently Located In Historic Downtown Penetanguishene, This Clean Three-Unit Building Off Main Street Still Has Its High Ceilings And 20th Century Charm. Both Main Level Units Offer A Large Commercial Space With An Additional Full-Height Basement (Dry) For Storage, A Bathroom And Great Visibility From Main Street. The Upper Level Of The Building, Previously Configured As Two Separate Residential Units, Has Been Opened Up Into One Large 2-Bed/2-Bath Apartment Space. Potential Of Redeveloping The Second Unit Would Be A Great Way To Increase Revenues. All Units In The Building Are Currently Vacant And Ready For Tenants To Move In At Market Rents, With Estimated Potential Rents Of Over $5100/M As Is - Or More If A Fourth Unit Is Created. This Is Also A Great Opportunity To Open A Business And Live Where You Work, While Still Capitalizing On Some Rental Income. Don't Miss This Excellent Opportunity To Invest. (id:27476)

Here is the rewritten version of the description:

An amazing investment opportunity is available for immediate possession in the historic downtown area of Penetanguishene. This three-unit building, situated just off the main street, retains its 20th-century charm and high ceilings, offering a clean and convenient space. The main level consists of two large commercial units with a full-height, dry basement for storage, a bathroom, and excellent visibility from the main street. The upper level, previously configured as two separate residential units, has been combined into a spacious 2-bedroom, 2-bathroom apartment. There is potential to redevelop the second unit to increase potential revenues. All units are currently vacant and ready for tenants to move in at market rents, with an estimated potential rental income of over $5100 per month as is, or even more if a fourth unit is created. This property also presents the opportunity to open a business and live on-site while generating rental income. This is an excellent investment opportunity that should not be missed.

This property is located at 1 Simcoe St in the city of Penetanguishene, Ontario. It has a land size of 43 feet and is conveniently situated near public transit. The property is fully air-conditioned and has a postal code of L9M1V2. It is part of the Penetanguishene community.