151 Chambers Street Smiths Falls, Ontario K7A 2Z5
$849,900
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. (id:39840)
Property Details
| MLS® Number | X12219098 |
| Property Type | Multi-family |
| Community Name | 901 - Smiths Falls |
| Amenities Near By | Park |
| Community Features | School Bus |
| Equipment Type | Water Heater - Gas |
| Parking Space Total | 6 |
| Rental Equipment Type | Water Heater - Gas |
| Structure | Porch |
Building
| Bathroom Total | 6 |
| Bedrooms Above Ground | 8 |
| Bedrooms Total | 8 |
| Age | 100+ Years |
| Amenities | Separate Electricity Meters, Separate Heating Controls |
| Basement Type | Full |
| Exterior Finish | Brick |
| Foundation Type | Stone |
| Heating Fuel | Electric |
| Heating Type | Baseboard Heaters |
| Stories Total | 3 |
| Size Interior | 3,500 - 5,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Land Amenities | Park |
| Sewer | Sanitary Sewer |
| Size Depth | 96 Ft |
| Size Frontage | 37 Ft ,1 In |
| Size Irregular | 37.1 X 96 Ft |
| Size Total Text | 37.1 X 96 Ft|under 1/2 Acre |
| Zoning Description | R4 |
Utilities
| Cable | Available |
| Electricity | Installed |
| Sewer | Installed |
https://www.realtor.ca/real-estate/28465180/151-chambers-street-smiths-falls-901-smiths-falls
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June 13 2025 07:55:23
Ottawa Real Estate Board
Coldwell Banker First Ottawa Realty