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$ 999,900
Est. payment /mo
New
206 Parkview CRES Newmarket, ON L3Y 2C8
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision Central Newmarket
MLS Listing ID N13497606
Style Bungalow
Bedrooms 8
Annual Tax Amount $6,206
Tax Year 2025
Property Sub-Type Detached
Property Description
THE ULTIMATE WEALTH-GENERATING ASSET IN CENTRAL NEWMARKET100% FULL VACANT POSSESSION ON CLOSINGWelcome to a premium house and a great asset in Newmarket's prime Yonge & Davis corridor. The property generates about $90,000 rental income annually. Whether you are an institutional investor adding a high-yield vehicle to your portfolio, or a smart homeowner looking to completely eliminate your housing costs via "house-hacking," this property stands entirely in a league of its own.THE LAND VALUE: Sprawling across an oversized, mature 60 ft x 121 ft premium lot, the property backs onto a tranquil ravine. Real estate is about location and land-and a 60-foot ravine lot in the heart of York Region offers massive future appreciation and development protection.THE CONFIGURATION:Main Level: Bright, spacious, updated 4-bedroom layout featuring principal rooms and large windows with the views of the ravine.Lower Level: Two separate, fully self-contained rental suites. Bright, comfortable, and designed to minimize turnover.THE FINANCIAL METRICS: Currently operating at a gross annual yield of approx. $90,000 across three tenancies. For an end-user, this income is large enough to offset your mortgage qualifications, effectively allowing you to occupy a premium detached ravine home in Newmarket completely free while your tenants pay down your principal.THE LOCATION: Unbeatable transit and commercial footprint. Walk to Upper Canada Mall, immediate access to the Yonge St & Davis Dr transit corridors, minutes to the Newmarket GO Station, Southlake Health Centre, major stores, plazas, supermarkets and top-tier neighborhood schools.CHOOSE YOUR CLOSING: The seller offers ultimate contractual flexibility to suit your profile. Retain the outstanding, low-maintenance good tenants for an uninterrupted stream of revenue from day one, OR receive contractually guaranteed 100% full vacant possession on closing to choose your own market rents or move your extended family right in.
Location
Province ON
County York
Area York
Rooms
Family Room Yes
Basement Apartment
Kitchen 3
Separate Den/Office 4
Interior
Interior Features Other
Cooling Central Air
Fireplace Yes
Heat Source Gas
Exterior
Parking Features Front Yard Parking
Pool Inground
Roof Type Asphalt Shingle
Lot Frontage 60.0
Lot Depth 121.0
Total Parking Spaces 4
Building
Foundation Concrete Block
Others
ParcelsYN Yes
Listed by CENTRAL HOME REALTY INC.
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