Recently we listed an investment property in Guelph that deserves your attention. The reason is because it features a legal 3 bedroom apartment!
Why is This Great News?
The city of Guelph does not currently allow more than 2 bedrooms in a basement apartment. There are also restrictions on the percentage of square feet that the apartment has in comparison to the main house. This property, 75 Cedar St in Guelph, is what we called grandfathered. The legal status was granted before the changes of the by-laws and building codes, so it will remain with the property unless there are significant changes.
We love this investment property because it can generate up to $3000 per month. The high quality finishes and modern decor appeal to the students and young people of the city. The bus stop is close by and the University of Guelph is walking distance.
The other reason we love this investment property is because it can be flexible for a buyer. It can be a family home, renting to a young couple in the basement, or it can be a full rental. The 3 bedrooms on each separate floor are relatively easy to rent out. In our experience 3 rooms are much easier to rent than 4 rooms.
if you want to learn more about this house click on the link below: