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BEDROOMS3
BATHROOMS2
KITCHENS14
ROOMSX13426542
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Property Description
Turnkey, well-maintained, bright, clean, duplex investment opportunity in a quiet, sought-after Stratford neighbourhood with excellent tenants. Fully leased with current gross annual rental income of $40,800, $3,400 monthly with NOI of ~ $32,100.The lower unit features 1 bedroom, 2 bathrooms, private laundry, and exclusive use of the basement. The upper unit offers 2 bedrooms, 1 bathroom, private laundry, and exclusive use of the finished attic. Both units have been well-maintained over the years and have benefited from thoughtful updates, including renovated kitchens. Tenants pay their own hydro (separately metered 2x100A) and water, while the landlord pays the heat. Additional features include a large backyard, potential for an ADU, storage shed, parking for up to 5 vehicles, two water heaters, and ample storage space. A rare opportunity to acquire a fully leased income property with strong in-place rents, reliable long-term tenants, and attractive investment fundamentals close to schools, parks, downtown amenities, and public transit. Contact your realtor for more details and virtual tour. Roof and balcony completed in 2018; back porch completed in 2024
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Property Features
Accessory Apartment
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Property Details
Address
31 Bay Street
Community
City
Postal Code
N5A 4K7
Property Type
Duplex, Duplex
Days On Market
16
Zoning
R2-2
Lot Size
40' x 118'
Taxes
$4,182 (2025
Basement
Unfinished
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
5
Garage Type
None
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Listing contracted with Home And Company Real Estate Corp Brokerage
This all brick, two-storey, upper/lower duplex has been owned by the same landlord for a long, long time, but he's no longer living in Stratford. The tenants in the upper unit are long-standing tenants (14 years) who wish to stay. The lower unit has recently had a new shower and sink installed in summer of 2025 and is vacant at this time waiting for the new owners to set the rent or move in themselves. Call your Realtor to arrange a showing. Tenants require 24 hours notice for all showings but you can see the lower unit on short notice. Roof (2019) / furnace (2009) / rental water heater (2021) / new sewer line from the street to the house (2010). The laundry facilities for the upper unit are located in the hallway on the main floor. The main floor unit has laundry hook-ups within the apartment but there is no washer or dryer in that main floor unit. Upper unit has one parking space; lower unit has the longer driveway which will accommodate at three vehicles.
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Fantastic opportunity to enter the real estate market with this solid brick home featuring two self-contained 1-bedroom units. The upper unit is currently rented for $1,371.50/month plus hydro and offers a separate entrance and private front porch. The vacant main floor unit is ideal for owner-occupied living, with walkout access to the deck and backyard complete with a raised garden bed and storage shed. Offering ample parking and located within walking distance to the downtown core, restaurants, parks, river, and theatres, this property is perfectly positioned for convenience and lifestyle. An excellent opportunity for first-time buyers or investors - live in one unit with as little as 5% down and add to your investment portfolio over time. Book your private viewing today.
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