Published on November 30, 2018
Introducing Upper Unionville – an exclusive collection of live-work properties in Berczy Village, Markham – offering a great business opportunity in a high-demand area.
There are 10 live-work properties in total at Upper Unionville. Each townhome is split into three distinct units: a retail/office unit on the ground floor and two back-to-back residential townhomes on the upper two floors. Each property has a business frontage at the front and two garages at the rear – one for each residential unit. Streetside and curb parking are available for the commercial units. The properties all have a common hallway on the ground floor that connects the three units and leads to their entrances.
There are four models available and all are similar in size, ranging from 4,558 to 4,646 square feet in total. Depending on the model, the retail/office space ranges in size from 779 to 1,047 square feet, while the residential units range from 1,671 to 1,793 square feet. All residential units have large balconies adjoining the living room, smaller balconies on the top floor, and three bedrooms, including a master bedroom with en-suite bathroom.
The layout of these live-work properties provides a unique business opportunity; it offers 3 highly sought-after types of properties for lease under a single ownership. Investors can potentially lease all three units for cash flow or can choose to use a unit or two and lease the remaining units. Regardless of the option, it provides the potential for lots of rental income.
Upper Unionville is located in the south-west of Berczy Village, just north of prestigious Unionville – putting it at the heart of two of the most desirable and in-demand areas in Markham. One of the major draws of Berczy Village is the quality of the schools: Upper Unionville is located within the school boundaries of Beckett Farm Public School (currently ranked 307th out of 3064 elementary schools in Ontario) and Pierre Elliott Trudeau High School, which consistently ranks as one of the best secondary schools in Ontario and is currently ranked as 19th out of 747. The quality of the schools has helped drive demand for homes, both for purchase and lease, and adds to the future-value potential of Upper Unionville.
Of course, it’s more than just the schools that make the area popular. There is an abundance of parks nearby, great amenities, popular destinations like Unionville’s historic Main Street, and much more. From an investment perspective, the average household income of $132,612 and the large proportion of households with children (63%) gives an indication of the kind of renters who will be looking at the area.