Exceptional Investment Opportunity in the Heart of Newmarket with Future Development Potential! Rare opportunity to acquire a unique income-producing property comprising a legal triplex at 64-66 Prospect Street together with a charming detached 2-bedroom bungalow at the rear, municipally known as 56...7 Granby Place, all included in the purchase price. The main building features three units, including commercial office space on the ground floor and two residential apartments above, offering a versatile mix of commercial and residential income streams. With two units currently occupied and two vacant, investors can benefit from existing rental income while taking advantage of immediate leasing opportunities, with a combined potential rental income of approximately $9,000 per month ($108,000 annually), subject to market conditions. Ideally positioned just steps from Southlake Health (formerly Southlake Regional Health Centre) , historic Downtown Newmarket, Main Street's vibrant shops and restaurants, public transit, and the GO Train. Surrounded by ongoing neighbourhood growth and redevelopment activity, this property presents exciting long-term possibilities for investors, developers, and those seeking to expand their real estate portfolios. Multiple income streams offer diversification and attractive investment flexibility. Enjoy the benefits of immediate income potential, a highly desirable central location, and possible future redevelopment or intensification opportunities, subject to municipal approvals and buyer's independent due diligence. A rare opportunity to invest today while positioning yourself for tomorrow's growth!
Full Property Details
Interior
Bedrooms
6
Total Bedrooms
6
Washrooms
5
Square Footage
3500-5000 sqft
Basement
Separate Entrance
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
Wall Unit(s)
Family Room
No
Kitchens
4
Total Kitchens
4
Fireplace Features
No
Bedrooms
6
Total Bedrooms
6
Washrooms
5
Square Footage
3500-5000 sqft
Basement
Separate Entrance
Heating Source
Gas
Heating Fuel
Forced Air
Air Conditioning
Wall Unit(s)
Family Room
No
Kitchens
4
Total Kitchens
4
Fireplace Features
No
Exterior
Depth
147.0
Front
70.0
Driveway
Private
Lot Size
70 x 147.0 ft
Pool
None
Parking Spaces
8
Total Parking Spaces
8.00
Parking Description
None
Garage Spaces
0
Depth
147.0
Front
70.0
Driveway
Private
Lot Size
70 x 147.0 ft
Pool
None
Parking Spaces
8
Total Parking Spaces
8.00
Parking Description
None
Garage Spaces
0
Building Description
Style
2 1/2 Storey
Home Type
Apartment
Subtype
Multiplex
Property Orientation
West
Exterior Finish
Aluminum Siding
Sewers
Sewer
Water Supply
Municipal
Possession Date
No Data
Style
2 1/2 Storey
Home Type
Apartment
Subtype
Multiplex
Property Orientation
West
Exterior Finish
Aluminum Siding
Sewers
Sewer
Water Supply
Municipal
Possession Date
No Data
Community
Community
Central Newmarket
Community
Central Newmarket
Taxes & Fees
Taxes
$13,000 /yr
Tax Year
2026
Occupancy
Tenant
Taxes
$13,000 /yr
Tax Year
2026
Occupancy
Tenant
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