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Hussein Zeineddine

hussein.zeineddine@engelvoelkers.com +1(613) 408-4082

$ 849,900

Est. payment -/mo

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151 Chambers ST Smiths Falls, ON K7A 2Z5

8 Beds

6 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 3500-5000

Subdivision 901 - Smiths Falls

MLS Listing ID X12219098

Style 3-Storey

Bedrooms 8

Building Age 100+

Annual Tax Amount $3,411

Tax Year 2024

Property Sub-Type Multiplex

Property Description

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.

Location

Province ON

County Lanark

Community 901 - Smiths Falls

Area Lanark

Rooms

Family Room Yes

Basement Full, Exposed Rock

Kitchen 6

Interior

Interior Features Other, Separate Hydro Meter, Separate Heating Controls

Cooling None

Fireplace No

Heat Source Electric

Exterior

Exterior Feature Porch

Parking Features Available, Private

Pool None

View Park/Greenbelt

Roof Type Membrane,Asphalt Shingle,Metal

Lot Frontage 37.05

Lot Depth 96.0

Total Parking Spaces 6

Building

Unit Features Park,School Bus Route

Foundation Stone

Others

ParcelsYN No

Listed by COLDWELL BANKER FIRST OTTAWA REALTY

Hussein Zeineddine

Broker | License ID: zeinehu

+1(613) 408-4082

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