285 HIGHWAY 3, Norfolk
$1,685,000
For sale: Multiplex
- Property type
- Investment
- MLS®
- MLS® X12449811
- Neighbourhood
- Rural Middleton
Beautifully maintained 7-unit multifamily property offering stable income with room to grow. The building features a desirable unit mix of 1 three-bedroom, 1 two-bedroom, 2 one-bedroom, and 3 bachelor apartments, with several units updated between tenancies. Two units are currently vacant, providing immediate opportunity for new leasing or flexible use.Ample on-site parking and a 2,400 sq.ft. insulated and heated detached garage/shop with plumbing add to the versatility of the property. The shop is currently owner-occupied but may be leaseable for hobby, storage, or small business purposes.Situated on a 1.09-acre CH-zoned corner lot with dual road access, the property offers future-use versatility and long-term potential. Conveniently located along Highway 3 between Tillsonburg and Delhi, this is a well-managed asset with solid existing tenants and clear upside available through lease-up of the vacant units and optional shop use.
Sold data
Homes in Norfolk — recent sold market
Homes in Norfolk took a median of 45 days to sell over the last 90 days, with the quickest quarter selling within 20 days and the slowest quarter taking more than 79, across 134 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 66 days.
The median sale price was $599,950.
Homes sold for about 3.3% below asking on average, so there was room to negotiate.
About 9% of sales closed above the list price.
Around 28% of sellers reduced their price before finding a buyer.
- Median days to sell
- 45
- Median sale price
- $599,950
- Sale-to-list ratio
- 96.7%
- Sold above asking
- 9%
Based on 134 recorded sales in the last 90 days. Aggregate statistics only; individual sale prices are not shown.
Currently for sale
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