For Sale
366-370 Penn Ave S Newmarket
366-370 Penn Avenue South Newmarket, Bristol-London, ON L3Y2S9, Canada
366-370 Penn Avenue South Newmarket, Bristol-London, ON L3Y2S9, Canada
THE OPPORTUNITY
Rarely offered 19-unit multifamily investment (mix of studio, 1- and 2-bedroom suites) at 366-370 Penn Ave in the heart of Newmarket, Ontario, a location tenants want. Excellent investment property with lots of upside.
THE BUILDING
The building features a modern stucco exterior, recently replaced windows, a new roof, freshly painted common areas, a master lock system, an AI camera security system, fob-controlled intercom access and many updates throughout, and is professionally managed and well cared for. All units show well and are spacious, with a great tenant base and no LTB issues.
THE LOCATION
Southlake Hospital is only a 2-minute drive or under a 15-minute walk away. The Newmarket GO Station is a 5-minute walk or 2-minute drive and offers regular weekday service to Union Station, ideal for commuters. Upper Canada Mall, with its 250 stores and services, is a short drive away, and everyday shopping is close by. Public, private and Catholic schools are all nearby, making this a sought-after address for families. Easy access to Highway 404 connects you to the GTA and beyond. Walkable, transit-connected and close to a major employer in Southlake Hospital, this is the kind of location that keeps units full and demand strong.
Address | 366-370 Penn Ave, Newmarket, ON |
Legal Description | Upon Request |
Units | 19 (8 x 2 Bedroom, 5 x 1 Bedroom, 6 x Bachelor) |
Frontage | 168.11 ft (Penn Ave) |
Building Style | Three-storey walk-up |
Perimeter | ±857 ft (per site survey) |
Lot Size | ±0.54 AC / 23,443 SF (per site survey) |
Zoning | Upon Request |
Parking | Surface parking |
Measurements | 168.11 x 57.04 x 100.06 x 203.40 x 260.82 ft (irregular lot) |
Building & Unit Features
Three-storey walk-up apartment building, 366-370 Penn Ave, Newmarket
19 suites: 8 two-bedroom (42%), 5 one-bedroom (26%) and 6 bachelor (32%)
Currently fully tenanted, with in-place rents from $860 to $2,452 per month
On-site coin laundry generating ancillary income
Surface parking on-site
Rent upside potential as below-market units turn over
Located in Newmarket, the regional seat of York Region
Newmarket offers Highway 404 access and GO Transit rail service to Toronto
Served by York Region's diverse employment base, including Southlake Regional Health Centre and Celestica
0.54 Acres lot
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