4289 HIGHWAY 7, Asphodel-Norwood (Norwood), Ontario, K0L2V0

Property Description

Ideally situated on Highway 7, this well-maintained multi-use building offers exceptional investment potential with a blend of commercial and residential income streams. The property features two commercial units and three residential apartments, with flexible configurations to maximize returns. Commercial Unit Main Floor: Street-facing unit, previously a barber shop - perfect for retail or service use. Lower Level: Former hair salon, adaptable for a range of commercial purposes. (Both commercial units are currently vacant, offering immediate opportunities for new tenants or owner operation.) Residential Units: Main Level Apartment (3 Bedrooms): Originally two separate units (a 1-bedroom and a 2-bedroom), this large apartment features an eat-in kitchen, family room, living room, three bedrooms, two 4-piece baths. It can easily be converted back into two self-contained apartments for increased rental income. Lower-Level Apartment (1 Bedroom): Comfortable unit with den, living room, and full kitchen. Third-Floor Apartment (2 Bedrooms): Bright and spacious, offering two bedrooms and a 4-piece bathroom. Additional Features: Tenancy: One unit is owner-occupied; two are rented to long-term, reliable tenants. Heating: Efficient natural gas furnace (replaced in 2013). Exterior: Metal roof and vinyl/aluminum siding for low-maintenance durability. Basement: Clean, dry space for storage or utilities. Investment Opportunity: This is a rare chance to acquire a solid, income-generating property with room for customization. Ideal for investors or owner-occupiers seeking additional revenue in a high-visibility location on Highway 7 in Norwood. (id:64974)

Quick Facts

• Property Type: House (Freehold)
• Bedrooms: 6 (5 above, 1 below)
• Bathrooms: 5 (1 half)
• Ownership: Freehold
• Attached: No
• Parking: 5 spaces (No Garage)
• Frontage: 62 ft (18.9 m)

Costs

• Annual Taxes: $2,427.31

Listing Provided by: Bowes & Cocks Limited
Board: Central Lakes Association of REALTORS®
Data provided via CREA DDF®.