517 WALES DRIVE, Port Elgin, Ontario N0H 2C1

517 Wales Drive is the perfect 3+2 bedroom multifamily or investment home. Showcasing this rare opportunity, this fully renovated property offers two completely self-contained living spaces, each with its own laundry, providing the ideal setup for income potential or multigenerational living. An Additional Residential Unit (ARU) application was submitted and approved by the Town of Saugeen Shores, giving buyers peace of mind and flexibility for future use. Live in the spacious upper level while renting out the lower suite to offset your mortgage or rent both and benefit from positive cash flow at the asking price. The upper level features three ... read more

517 Wales Drive is the perfect 3+2 bedroom multifamily or investment home. Showcasing this rare opportunity, this fully renovated property offers two completely self-contained living spaces, each with its own laundry, providing the ideal setup for income potential or multigenerational living. An Additional Residential Unit (ARU) application was submitted and approved by the Town of Saugeen Shores, giving buyers peace of mind and flexibility for future use. Live in the spacious upper level while renting out the lower suite to offset your mortgage or rent both and benefit from positive cash flow at the asking price. The upper level features three bedrooms and a full washroom, while the lower level includes two bedrooms and a full washroom, making the layout perfect for guests, tenants, or extended family. A 2025 renovation brought modern finishes, brand-new appliances, and upgraded systems, including four new heat pumps three in the lower unit and one in the upper plus two gas fireplaces capable of heating the entire home. With newer windows, a roof replaced around 2018, and everything move-in ready, this home is solid, stylish, and ready to perform.This property has also proven itself as a strong income earner, having successfully operated as an Airbnb for the 2022 and 2023 years. The rental potential is outstanding, with summer income alone enough to cover the mortgage for the entire year, while long-term rentals provide stable returns. Outside, you will find parking for up to five vehicles, a huge fenced backyard perfect for families and pets, and a brand-new storage shed for added convenience. Located in a quiet, family-friendly neighbourhood, you are just a short walk through scenic trails to the beach and only minutes to downtown and the shoreline. With five bedrooms, two washrooms, and ARU approval already in place, 517 Wales Drive is a rare chance to secure both a home and an investment live in one, lease the other, and let this opportunity work for you. (id:25417)