31 Bay Street Stratford, Ontario N5A 4K7

$550,000

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 (id:42776)

Property Details

MLS® Number	X13426542
Property Type	Multi-family
Community Name	Stratford
Equipment Type	Water Heater - Electric, Water Heater
Parking Space Total	5
Rental Equipment Type	Water Heater - Electric, Water Heater
Structure	Shed

Building

Bathroom Total	3
Bedrooms Above Ground	3
Bedrooms Below Ground	1
Bedrooms Total	4
Age	100+ Years
Basement Development	Unfinished
Basement Type	N/a (unfinished)
Cooling Type	None
Exterior Finish	Brick
Foundation Type	Concrete
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	3
Size Interior	2,000 - 2,500 Sqft
Type	Duplex
Utility Water	Municipal Water

Parking

No Garage

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	118 Ft ,3 In
Size Frontage	40 Ft
Size Irregular	40 X 118.3 Ft
Size Total Text	40 X 118.3 Ft
Zoning Description	R2-2

Rooms

Level	Type	Length	Width	Dimensions
Third Level	Den	5.46 m	6.4 m	5.46 m x 6.4 m
Main Level	Bathroom	2.51 m	1.06 m	2.51 m x 1.06 m
Main Level	Bathroom	2.9 m	1.33 m	2.9 m x 1.33 m
Main Level	Bedroom	3.47 m	3.56 m	3.47 m x 3.56 m
Main Level	Family Room	3.03 m	3.68 m	3.03 m x 3.68 m
Main Level	Kitchen	4.12 m	5.12 m	4.12 m x 5.12 m
Main Level	Living Room	4.1 m	3.41 m	4.1 m x 3.41 m
Main Level	Sunroom	5.51 m	1.96 m	5.51 m x 1.96 m
Upper Level	Kitchen	2.91 m	3.09 m	2.91 m x 3.09 m
Upper Level	Bedroom 2	2.93 m	3.47 m	2.93 m x 3.47 m
Upper Level	Bathroom	2.08 m	1.86 m	2.08 m x 1.86 m
Upper Level	Bedroom	2.9 m	3.59 m	2.9 m x 3.59 m
Upper Level	Den	3.42 m	3.14 m	3.42 m x 3.14 m

Utilities

Cable	Installed
Electricity	Installed
Sewer	Installed

https://www.realtor.ca/real-estate/29883319/31-bay-street-stratford-stratford