130 Gray Street, Windsor

About this property

130 Gray Street represents a rare turn-key cash-flowing opportunity in Downtown Windsor. Delivered fully vacant with two separate power meters and recent capital upgrades (roof 2023, electrical, plumbing, kitchens, and baths), an investor can capture current market rents immediately without rent-control restrictions. At a $449,900 acquisition price, the property projects an 8.27% Cap Rate and over $1,000/month in net positive cash flow after debt servicebacked by West Hants' long-term commuter population growth along the Highway 101 corridor. This renovated legal duplex with two power meters, separate unit entrances, features a spacious 2-bedroom, 1-bathroom unit on the main level, and a 3-bedroom, 2-bathroom unit spanning the second and third floors. Each unit boasts a brand-new kitchen, modern bathrooms, fresh flooring throughout, bright LED lighting, and dedicated in-suite laundry. The real showstopper is the upper level of Unit 130B, which offers a bonus third-story loft space. Complete with its own kitchenette, bathroom, and separate exterior entrance via a newly constructed deck, this area can easily function as a private primary suite, a guest setup, or a premium bachelor-style space. Located just steps away from local shops, festival grounds, the historic Mermaid Theatre, and public transit, while offering effortless access to Highway 101 for an easy commute. Extensive recent upgrades include a new roof (2023), replaced exterior cedar shingles front of the house, fresh interior/exterior paint, some new vinyl windows, brand-new doors with new hardware, insulated basement walls and upgraded electrical and plumbing systems. One dedicated parking space is provided for the upper unit, with abundant street parking right outside. (id:66939)