151 Chambers Street, Smiths Falls, ON Image 1

$849,900

Multiplex For Sale
MLS - #X12219098
Jun 13- By COLDWELL BANKER FIRST OTTAWA REALTY

151 Chambers Street, Smiths Falls, ON K7A 2Z5

8 Bed
6 Bath
3500-5000 Sqft.
None Garage

Property Description

Property type

Multiplex

Lot size

< .50

Style

3-Storey

Approx. Area

3500-5000 Sqft

About 151 Chambers Street

This well-maintained, fully tenanted multiplex presents a strong opportunity for investors seeking a reliable income property with clear upside. Zoned R4 and located within walking distance of downtown Smiths Falls, the building includes six residential units: two 2-bedroom apartments, three 1-bedroom units, and one bachelor suite. All units save the bachelor are separately metered, with those tenants paying their own hydro. All units are heated by electric baseboard, and domestic hot water is supplied via a shared natural gas hot water tank. Two units have been recently renovated, and windows have been updated as needed over time. The property has been owned and maintained by a respected local general contractor for over 30 years, reflecting consistent care and stewardship. Key systems, including windows and the roof, have been updated as necessary over the years. With a current net operating income of $42,070, the property delivers a cap rate of 4.95% based on existing rents. However, with rents well below market value, there is significant room for growth. A pro forma using typical local rents projects a cap rate of 7% or more, even with allowances for management and maintenance. The property includes six on-site parking spots and is located directly adjacent to a public park, with a baseball diamond just across the street. Only a short walk to the Rideau River, restaurants, shopping, and other amenities, this property combines stable income with long-term potential in one of Eastern Ontario's most accessible mid-size markets. Further photos and projected income analysis available upon request.

Home Overview

Last updated

Jun 13

Virtual tour

None

Basement information

Full, Exposed Rock

Building size

--

Status

In-Active

Property sub type

Multiplex

Maintenance fee

$N/A

Year built

--

Additional Details

Basement:Full, Exposed Rock
Cooling:None
Heating:Baseboard
Parking Features:Available, Private
0
Similar Homes Found
$0
Average Price
84990000.0%
Higher than average

Price Comparison

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Location

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Walk Score for 151 Chambers Street

Sales Representative

Angela Yang

Sales Representative, ANCHOR NEW HOMES INC.

English, Mandarin
Residential ResaleProperty ManagementPre Construction

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