490 Mill Street #1, #2, #3, #4

FOR SALE
$845,000
490 Mill Street #1, #2, #3, #4, Saugeen Shores
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
490 Mill Street #1, #2, #3, #4
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6
BEDROOMS
4
BATHROOMS
4
KITCHENS
19
ROOMS
X12146433
MLSID
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Property Description
Attention Investors! Seize a unique opportunity in Port Elgin with this fully tenanted fourplex nestled within a distinguished century home. This property features an ideal unit mix of two spacious two-bedroom units and two well-appointed one-bedroom units, providing a diversified income stream. Benefit from the convenience of on-site shared laundry and included parking for all tenants. Currently generating a $5000 per month, this property offers immediate cash flow. Adding significant value, both one-bedroom units have been recently renovated. The main floor units boast impressive 12-foot ceilings and the home's historic detailing shines through, including stunning original wooden pocket doors dividing the living and dining spaces. This home holds so much character - it could be beautifully restored to its former glory, all while capitalizing on consistent rental income. Don't miss out on this prime investment in a desirable location within our growing community!
Property Features
Separate Hydro Meter, Unreserved, Available
Property Details
Address
490 Mill Street #1, #2, #3, #4
Postal Code
N0H 2C0
Property Type
Fourplex, Fourplex
Zoning
R1
Lot Size
66' x 132'
Acreage
8,712.0 Feet
Taxes
$4,279 (2024
Basement
Unfinished
Exterior
Porch
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Parking Spaces
4
Garage Type
None
Listing contracted with Royal Lepage D C Johnston Realty
228 Palmerston Street, Saugeen Shores
6+2
BEDS
5
BATHS
$830,000
FOR SALE
Centrally located in the heart of Southampton and just minutes from the sparkling shores of Lake Huron, this well-maintained four-plex offers an outstanding blend of lifestyle and investment potential. Walk to downtown shops and restaurants, the Coliseum, Art School, and year-round amenities while enjoying all the benefits of living near the lake in one of Bruce Counties most desirable communities. The property features 4 residential units with separate entrances and on-site parking. Three one-bedroom suites provide consistent rental appeal: an upper unit with gas fireplace and in-suite laundry; a lower unit with entry porch, baseboard electric heat and laundry; and a middle unit with gas wall heater and laundry hook-up. The spacious five-bedroom unit at the rear includes three bedrooms up and two down, two kitchens, two bathrooms, main-floor laundry, forced-air gas heat with central air, in-floor radiant heat in the lower level, and a private sunroom. The split entrance offers excellent potential to divide this unit into two, adding further income possibilities. Separate hydro meters for each unit, along with a single gas and water meter, help streamline management. The clean, dry cellar under the main house and middle unit adds useful storage space. With strong rental demand in this popular lakeside town, the income potential is significant-ideal for investors, Airbnb, short or long term rentals, multi-generational living, or for an owner to reside in the larger unit while the other suites help offset expenses. Property will be sold vacant; ready to fulfil your real estate goals!
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