552 7TH Avenue
Hanover, Ontario
6 bed • 3 bath • Multi-family
Amazing investment opportunity. A fully-renovated triplex, offering a total of 3 units, each with 2 bedrooms and 1 bathroom, spanning 2200 SQFT. This property is not only occupied at market rents per unit but also comes with approved site plans to add 3 more units, doubling the income potential. Additional features include separate meters for each unit, fully renovated with new windows in the existing triplex. Building plans, permits, and a detailed proforma are readily available. This is a prime investment opportunity for both new and seasoned investors, with all the groundwork already laid out. 2021 narrative appraisal completed for potential 3 unit addition available upon request.
Price History
Property
- Lot Size
- 0.22 acres
Schools
Elementary
- Holy Family Separate School0.5 km
Catholic · Bruce-Grey CDSB · 345 students
Grade 3 reading: 87% met the provincial standard · Grade 6 math: 44% met the provincial standard
- Hanover Heights Community School0.5 km
Public · Bluewater DSB · 395 students
Grade 3 reading: 65% met the provincial standard · Grade 6 math: 36% met the provincial standard
- Dawnview Public School0.9 km
Public · Bluewater DSB · 195 students
Grade 3 reading: 92% met the provincial standard · Grade 6 math: 28% met the provincial standard
Secondary
- John Diefenbaker Senior School1.2 km
Public · Bluewater DSB · 625 students
Grade 10 literacy: 79% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area N4N
- Population
- 10,341
- Private dwellings
- 4,849
- Median age
- 49.6
- Average household size
- 2.3
- Median household income
- $73,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Hanover · last 12 months
- Median sold price
- $516,000
- Homes sold
- 116
- Median days on market
- 43
- Sale-to-list price
- 96.8%
Based on 116 recorded sales of multi-family properties in Hanover over the last 12 months.
Location
Mortgage Calculator
$169,800
Estimated Monthly Payment
$4,171
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $4,171/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $212/mo
Estimates only. Consult a financial advisor.
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