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3
BEDROOMS 2
BATHROOMS 2
KITCHENS 12
ROOMS S13785972
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Property Description
Attention investors and homebuyers! Looking for an investment with real cash-flow potential? Look no further!Welcome to 154 Fifth Street in Midland-a legal duplex offering flexibility, excellent income potential, and vacant possession.The property features a one-bedroom unit that recently rented for $1,615 per month and a two-bedroom unit that rented for $1,850 per month, with tenants responsible for all utilities in addition to their monthly rent.Vacant possession gives you the flexibility to set your own rents, choose your own tenants, move into one unit while renting the other to help offset your mortgage, or accommodate extended family.Each self-contained unit has its own driveway, hydro meter, in-suite laundry and storage shed, providing added convenience and privacy. Ideally located within walking distance of downtown Midland and the waterfront trail, residents can enjoy easy access to local shops, restaurants and beautiful Georgian Bay.Whether you're looking to expand your investment portfolio, reduce your housing costs or explore a multi-generational living arrangement, this versatile property offers plenty of possibilities!
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Property Features
Separate Hydro Meter, Private Double
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Property Details
Address
154 Fifth Street
Community
City
Postal Code
L4R 3V9
Property Type
Duplex, Duplex
Zoning
RS2
Lot Size
50' x 100'
Taxes
$2,849 (2025
Basement
Unfinished
Exterior
Deck, Patio
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
4
Garage Type
None
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Listing contracted with Keller Williams Experience Realty
Legal duplex located within walking distance to downtown Midland. Excellent investment opportunity with positive cash flow and reliable tenants in place. The upper unit features 3 bedrooms, a full kitchen, living area, and in-suite laundry, currently leased until June 2026 at $1,950/month; vacant from July 1st.. The lower unit offers 2 bedrooms, a full kitchen, and living area with a long-term tenant on a month-to-month lease paying $1,488.76/month (tenant since October 2021). Separate hydro meters for each unit. 2024 utility costs: gas $1,171.80 and water $2,403.
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