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    For Sale - 473 Vernon Avenue, Overbrook - Castleheights and Area, Ontario

    Est payment $3,834/mo
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    Views   3
    Time on Jump  70 day

    AI Summary *

    • Well-maintained triplex with over 84 ft of frontage on an oversized lot.
    • Generates $48,192 annually with solid net operating income.
    • Spacious upper 3-bedroom unit ideal for owner-occupancy.
    • Two lower studio apartments help offset carrying costs.
    • Unique potential for redevelopment or expansion in a rare market opportunity.




    Well-maintained triplex on an oversized lot with over 84 ft of frontage, offering a rare opportunity to blend immediate cash flow, owner-occupancy potential, and long-term redevelopment upside. The property generates $48,192 annually with a net operating income of $31,582, featuring a spacious upper-level 3-bedroom unit ideal for an owner-occupant, complemented by two lower-level studio apartments to help offset carrying costs. Unit 1 and unit 2 are currently on month-to-month leases, while unit 3 is leased until july 31, 2026. This property has been meticulously maintained by long-term ownership, with clear pride of care throughout and very little deferred maintenance, allowing a new owner to step in and operate with confidence and minimal immediate capital requirements. Major capital improvements include a new roof (2014), driveway expansion and repaving, landscaping and regrading, masonry repairs, and a pvc privacy fence. For investors, this is a balanced asset with solid in-place income and clear upside. For end users, it presents a unique opportunity to live in a larger unit while generating meaningful rental income. The 84 ft frontage further enhances the property with strong future potential for redevelopment, severance, or expansion, making this a versatile acquisition in a market where opportunities like this are increasingly rare.
    Listing IDX13050852
    Address473 Vernon Avenue
    CityOverbrook - Castleheights and Area, Onta…
    Price$798,500
    Bed / Bath5 / 3 Full
    StyleBungalow-Raised, Triplex
    ConstructionBrick
    TypeMulti-Family
    StatusFor Sale

    Subtype TriplexIndoor Features Carpet Free, In-Law Capability, Separate Hydro MeterOwnership FreeholdBasement Apartment, FinishedFoundation ConcreteHeating / Cooling RadiantHeating Fuel GasSewer Sewer

    Parking 6.00
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    Listing Agency:  SLEEPWELL REALTY GROUP LTD

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    473 Vernon Avenue
    Overbrook - Castleheights and Area , Ontario
    5 3 $798,500
    Get more info