$1,195,000
Welcome to 80 Barton Street in the vibrant community of Old Milton. This three-unit home offers a unique opportunity for investors or for those seeking a multi-unit home, in the heart of Milton’s Downtown area.
The property features a 66.9 x 133.1 foot lot, which is the size people look for when considering building a custom home in the area. In fact, quite a few of the neighbours have already torn down old homes and rebuilt their dream homes on the street.
The Opportunity:
Investing in a multi-unit residence is a great way to earn rental income and secure long-term financial stability. Whether you’re an experienced investor or looking to start your real estate portfolio, 80 Barton Street presents a promising opportunity for a variety of buyers:
1
A buyer who intends to occupy one of the units
This buyer could expect $3,500 to $4,000 of income from the other two units, depending on which unit they intend on occupying. With one-bedroom condos in Milton selling for high-$500’s, the cost to carry this home with the additional rental income is probably less than buying a small condo or townhouse.
2
An investor who intends to have all three units tenanted
We expect that the rental potential on the main and second floor is $2,000 to $2,300 a month, and the basement (with some fixing up) could add a minimum of $1,500 to $1,800 a month.
That means the gross income of the property could be $66,000 to $76,800 per year. Expenses would include taxes of $4,700 per year and insurance of $1,000 per year.
For illustration purposes, we’ve created an example of what the numbers look like here, which shows a positive cash flow — even at today’s high interest rates.
3
An investor purchasing for land value
Recent sales of similar-sized properties have been upwards of $1 million and will only continue growing in the future. There are only a finite number of lots this size or larger in the urban area of Milton, which we will never see again with the current Official Plan. Now or later, this lot remains valuable because of the size and the location just south of the Downtown Core.
Development Potential:
We will cover the cash flow potential of this property below, but let’s look at the land and what’s possible here.
This classic Old Milton-sized lot has approximately 8,900 square feet of total land.
According to the RLD*279 zoning (see pages 100-104 and page 302), the lot coverage on this property would allow for a build on 20% of the total land.
Please note that the *279 Zoning Amendment requires a lot frontage of 6.0 metres instead of the 4.0 metres listed above.
For a two-storey home, a permit with the current zoning would allow for 3,560 square feet of total floor area in the home.
That’s why people LOVE these Old Milton lots! You get a combination of a nice-sized home with a fabulous location and a large backyard.
With the Province of Ontario introducing new rules for additional rental units (ARU’s), there might also be an opportunity to build a slightly smaller new home (or keep the existing 1050 square foot current home footprint)… and then have a detached oversized garage with an apartment or office space above the garage.
The Units:
There are three separate units, each with its own private entrance, gas meter, hydro meter, and laundry.
There are no leases in place (all month-to-month), and the two remaining Tenants are all family that can remain in the home or leave, depending on the wishes of the new owner.
Each level is designed to provide its occupants with a private, comfortable, and functional living space.
There is a mix of electric baseboard heating and a gas fireplace in each unit.
Three Bedroom Main Level:
Full 3D tour of the Main Floor
Three Bedroom Upper Level:
Full 3D tour of the Upper Floor
Two-Bedroom Lower Level:
Full 3D tour of the Lower Level
What you can do next…
This is your chance to own a versatile and profitable three-unit detached home in the sought-after Downtown Old Milton area.
Schedule a viewing today and discover the potential that awaits you at 80 Barton Street!
You can find a video tour and photo gallery below.
Neighbourhood:
Old Milton
Property Type:
Three Unit Detached Home
Beds:
8
Baths:
3
Photo Gallery
Location
About the Neighbourhood
Old Milton
This is the area connected to Main Street, with great restaurants and small boutique shops. Every Saturday morning from May to October, you can visit the Farmer’s Market for fresh fruits and vegetables, with some treats and fun for the kids.
Housing can range from historic century homes to mid-century war-time bungalows. The lots are typically the largest in town, many with 60+ foot frontages, and many builders are starting to re-develop on some of the prime streets.
Explore Old Milton See Listings in the Area