LIVE FOR FREE IN CAMBRIDGE! An exceptional opportunity for homeowners and investors alike. This beautifully renovated bungalow with a legal accessory apartment offers the rare chance to significantly offset your mortgage-or potentially live for little to no cost-thanks to the strong rental income already in place. Situated on a generous 50-foot-wide lot in a desirable Cambridge neighbourhood, this property has been extensively updated from top to bottom. With major improvements already completed, including updated mechanicals, there is truly nothing left to do but move in and enjoy. The upper unit is currently leased to a wonderful family for $2,500 per month, providing immediate income from day one. The vacant lower-level legal apartment offers incredible flexibility: occupy it yourself while collecting rent from upstairs, or rent both units and maximize your return. Outside, you'll appreciate the newly widened driveway with parking for 5 to 6 vehicles, making it ideal for multi-generational living, tenants, guests, or hobbyists requiring extra parking. Whether you're a first-time buyer looking for mortgage assistance, a savvy investor seeking a turn-key income property, or someone wanting flexible living arrangements, this home checks all the boxes. Please note: Photos of the upper-level unit were taken prior to the current tenancy. The space is presently occupied by an excellent family who always pay their rent on time . Properties offering this level of renovation, flexibility, and income potential rarely become available. Don't miss your opportunity to own a turn-key property that works for you from the moment you take possession. (id:4069)
Address
248 CYRUS Street
List Price
$699,000
Property Type
Single Family
Type of Dwelling
House
Transaction Type
Sale
Area
Ontario
Sub-Area
Cambridge
Bedrooms
5
Bathrooms
2
Floor Area
1,000 Sq. Ft.
Lot Depth
101 ft
Frontage Length
50 ft
Year Built
1970
MLS® Number
40852664
Listing Brokerage
Keller Williams Home Group Realty, Brokerage
Basement Area
Full (Finished)
Postal Code
N3H1H3
Zoning
R4
Ownership
Freehold
Parking Places (Total)
5
Site Influences
Park, Shopping
Features
Paved driveway
Community Features
Quiet Area
Appliances
Dishwasher, Dryer, Microwave, Refrigerator, Stove, Water softener, Washer, Range - Gas, Microwave Built-in
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Central air conditioning
Foundation Details
Poured Concrete
Number Of Floors In Building
1
Water Source
Municipal water
Access To Property
Highway access
Sewer
Municipal sewage system
