Multiplex · For sale

66 Prospect Street, Newmarket

$1,800,000

Listing brokerage: REMAX YOUR COMMUNITY REALTY · MLS® N13882840

Listing brokerage

REMAX YOUR COMMUNITY REALTY

Type

Multiplex

Deal

For sale

Category

Residential · Multi-unit homes

Bedrooms

6

Bathrooms

5

Size

3500-5000 sq ft

Lot

70 x 147 ft

Area

Central Newmarket

MLS® number

N13882840

Description

Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential! Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom bungalow at the rear, municipally known as 567 Granby Place, all included in the purchase price. The main building features three units, including commercial office space on the ground floor and two residential apartments above, offering a versatile mix of commercial and residential income streams. With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a combined potential rental income of approximately $9,000 per month ($108,000 annually), subject to market conditions. Ideally positioned just steps from Southlake Health (formerly Southlake Regional Health Centre) , historic Downtown Newmarket, Main Street's vibrant shops and restaurants, public transit, and the GO Train. Surrounded by ongoing neighbourhood growth and redevelopment activity, this property presents exciting long-term possibilities for investors, developers, and those seeking to expand their real estate portfolios. Multiple income streams offer diversification and attractive investment flexibility. Enjoy the benefits of immediate income potential, a highly desirable central location, and possible future redevelopment or intensification opportunities, subject to municipal approvals and buyer's independent due diligence. A rare opportunity to invest today while positioning yourself for tomorrow's growth!