66 QUEEN STREET, Smiths Falls

$1,150,000

For sale: Multiplex

Multiplex at 66 QUEEN STREET, Smiths Falls
Property type
Investment
Bedrooms / bathrooms
6 bathrooms
MLS®
MLS® X13000028
Neighbourhood
901 - Smiths Falls

This fully tenanted 6-unit apartment building sits on a generously sized lot, backing directly onto the UNESCO World Heritage Site, the Rideau Canal-offering access to scenic walking trails and outdoor recreation. Located in a quiet, residential neighbourhood known for its charm and upscale character, the property is just two blocks from the main business district and all amenities in the revitalized downtown core. The building offers beautiful canal views, specifically from the second-floor balcony, and attracts quality tenants due to its desirable surroundings. All tenants pay their own heat and hydro, with gas heating in place. Ample parking is available, with space for approximately two vehicles per unit. Current rental income is as follows: Unit 1: $871, Unit 2: $847, Unit 3: $1,896, Unit 4: $1,090, Unit 5: $1,800, Unit 6: $1,800. With strong existing cash flow and significant upside potential to increase rents, this property presents an excellent opportunity for investors seeking long-term growth and reliable returns. Two 3-bed units & four 2 bed units, New Roof April/2022, Cash Cow.

Sold data

Multiplex homes in Smiths Falls — recent sold market

Multiplex homes in Smiths Falls took a median of 50 days to sell over the last 730 days, with the quickest quarter selling within 21 days and the slowest quarter taking more than 92, across 33 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 72 days.

The median sale price was $389,900.

Homes sold for about 5.9% below asking on average, so there was room to negotiate.

About 6% of sales closed above the list price.

Around 39% of sellers reduced their price before finding a buyer.

Median days to sell
50
Median sale price
$389,900
Sale-to-list ratio
94.1%
Sold above asking
6%

Based on 33 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Smiths Falls

Smiths Falls has 6 Fraser Institute–rated schools (4 elementary and 2 secondary), averaging 3.3/10.

Rated schools
6
Elementary
4
Secondary
2
Average rating
3.3 / 10

Top-rated schools in Smiths Falls

  • Montague — elementaryFraser rating 5.9/10
  • Chimo — elementaryFraser rating 3.7/10
  • Smiths Falls — secondaryFraser rating 3.7/10
  • St Francis de Sales — elementaryFraser rating 2.9/10
  • Duncan J Schoular — elementaryFraser rating 2.6/10
  • St. Luke Catholic — secondaryFraser rating 0.9/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 66 QUEEN STREET