UPDATED:
Key Details
Sold Price $710,000
Property Type Multi-Family
Sub Type Duplex Up/Down
Listing Status Sold
Purchase Type For Sale
Square Footage 901 sqft
Price per Sqft $788
MLS Listing ID 40696251
Sold Date 04/25/25
Bedrooms 5
Abv Grd Liv Area 1,820
Annual Tax Amount $3,482
Property Sub-Type Duplex Up/Down
Source Waterloo Region
Property Description
Welcome to 124 Alison Avenue, Cambridge, a fully legal and conforming duplex with a complete conversion completed in 2023. This 3+2 bedroom property is a fantastic investment opportunity, offering strong rental income potential.
Property Features:
- Main Unit: 3 bedrooms, last rented for $2,400/month
- Lower Unit: 2 bedrooms, last rented for $1,895/month (Currently Rented)
- Separate Hydro Meters for each unit
- Tenant-Paid Utilities:
Gas & Water costs are covered by the tenants, with a 60/40 split (Upper/Lower)
Renovations & Updates:
- Downstairs unit was fully renovated, including:
- New kitchen, bathroom, flooring, and bedrooms
- Egress window added in the kitchen for safety and natural light
- Hydro meters separated for independent utility billing
Utility Breakdown & Operating Costs:
- Water Expenses:
- Total Yearly Cost: $1,108.12
- Average Monthly Cost: $92.33
- Gas Expenses:
- Total Yearly Cost:$1,299.20
- Average Monthly Cost: $108.27
- Water Expenses:
- Total Yearly Cost: $1,227.71
- Average Monthly Cost: $102.31
- Tenants responsible for hydro (separate meters) and a portion of utilities
This turnkey duplex is ideal for investors looking for strong cash flow and minimal maintenance. Conveniently located near schools, parks, and essential amenities, this is an opportunity you don't want to miss!
For more details or to schedule a viewing, reach out today!
Location
Province ON
County Waterloo
Area 12 - Galt East
Zoning R4
Direction Elgin to Alison
Rooms
Basement Separate Entrance, Walk-Up Access, Full, Finished
Kitchen 0
Interior
Interior Features Accessory Apartment, Separate Hydro Meters, Upgraded Insulation
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Appliance Dishwasher, Dryer, Refrigerator, Stove, Washer
Laundry In-Suite
Exterior
Exterior Feature Private Entrance
Parking Features Asphalt
Fence Full
Roof Type Asphalt Shing
Porch Patio, Porch
Lot Frontage 55.0
Lot Depth 150.0
Garage No
Building
Lot Description Highway Access, Hospital, Library, Open Spaces, Park, Place of Worship, Playground Nearby, Public Transit, Quiet Area, Rec./Community Centre, Schools, Shopping Nearby
Faces Elgin to Alison
Story 1
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 1
Structure Type Brick,Vinyl Siding
New Construction No
Others
Senior Community false
Tax ID 038210323
Ownership Freehold/None