12 Terrace Hill St

ATTENTION Contractors, Investors & handymen! Rebuild 4 Plex + Garage Workshop opportunity, with brand new roof installed & exterior windows/doors to be installed for closing. This solid brick property was recently approved (with minor variance) to be a legal 4-unit property and has engineered floor plan drawings completed & approved with a building permit already issued, and work beginning. This is a 4-level brick building (basement, main floor, upstairs and third level loft) will be ready for your interior finishes. All outdoor Framing & interior framing inspections will be complete for the buyer by closing. Just come in and finish the interior to your tastes. The exterior of the building will be sealed with new custom black windows & doors & exterior cladding already ordered & paid for to be installed in march. The exterior will be fully sealed with new siding, and the roof has been replaced 4 months ago. Bonus: unlock the potential of a bonus garage workshop that comes with this property! Option for the property to be fully rebuilt for a buyer, to their tastes by the current owner. Located in a prime area near parks, schools, public transit, and more, this is the perfect opportunity for investors or multi-generational living who want everything new-build the way they want it, brand new, but with the charm of the historic brick exterior.

Investment Opportunity: Units 1 (main floor) and Unit 3 (2nd floor) are currently vacant for a the opportunity to screen and vet your own tenants! Plus, bonus income from a coin-operated washer and dryer, estimated at approximately $1,800 per year. This property also offers the opportunity to rent out a detached two-car garage with a loft area, which was previously leased for $200 per month, providing further income potential. Key Updates: Roof replacement in 2020, Garage roof/eaves updated in 2022, 2 new furnaces in 2022, On-demand hot water tank in 2023, Unit 1: Main bath shower/bathtub surround updated in 2023; macerating toilet installed in lower bathroom in 2022, Unit 2: Kitchen flooring updated in 2022, Common area flooring and paint refreshed in 2022, Main home eavestroughs replaced in 2022. The property offers convenient parking for three vehicles in the driveway, along with space for two additional vehicles in the garage. This well-maintained income property presents a solid investment opportunity with reliable cash flow and room for growth. Dont miss the chance to add this asset to your portfolio.