66 Prospect Street Newmarket, Ontario L3Y 3S9
$1,800,000
Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential! Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom bungalow at the rear, municipally known as 567 Granby Place, all included in the purchase price. The main building features three units, including commercial office space on the ground floor and two residential apartments above, offering a versatile mix of commercial and residential income streams. With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a combined potential rental income of approximately $9,000 per month ($108,000 annually), subject to market conditions. Ideally positioned just steps from Southlake Health (formerly Southlake Regional Health Centre) , historic Downtown Newmarket, Main Street's vibrant shops and restaurants, public transit, and the GO Train. Surrounded by ongoing neighbourhood growth and redevelopment activity, this property presents exciting long-term possibilities for investors, developers, and those seeking to expand their real estate portfolios. Multiple income streams offer diversification and attractive investment flexibility. Enjoy the benefits of immediate income potential, a highly desirable central location, and possible future redevelopment or intensification opportunities, subject to municipal approvals and buyer's independent due diligence. A rare opportunity to invest today while positioning yourself for tomorrow's growth! (id:50787)
Property Details
| MLS® Number | N13882840 |
| Property Type | Multi-family |
| Community Name | Central Newmarket |
| Equipment Type | Water Heater |
| Parking Space Total | 8 |
| Rental Equipment Type | Water Heater |
Building
| Bathroom Total | 5 |
| Bedrooms Above Ground | 6 |
| Bedrooms Total | 6 |
| Appliances | Dishwasher, Dryer, Stove, Washer, Window Coverings, Refrigerator |
| Basement Features | Separate Entrance |
| Basement Type | N/a |
| Cooling Type | Wall Unit |
| Exterior Finish | Aluminum Siding |
| Foundation Type | Block |
| Half Bath Total | 1 |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air, Heat Pump |
| Stories Total | 3 |
| Size Interior | 3,500 - 5,000 Sqft |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 147 Ft |
| Size Frontage | 70 Ft |
| Size Irregular | 70 X 147 Ft |
| Size Total Text | 70 X 147 Ft |
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October 09 2026 09:33:17
Toronto Regional Real Estate Board
RE/MAX Your Community Realty