1562 St Margarets Bay Road

40-Timberlea, Prospect, St. Margaret's Bay Lakeside B3T 1A9

Welcome to 1562 St Margarets Bay Road, a beautifully maintained Prestige Homes property in the heart of Lakeside offering an excellent opportunity for homeowners and investors alike. This income-producing property features a 3-bedroom, 2-bathroom main-level unit with a renovated living room and wood-burning fireplace, open-concept kitchen and dining area with backyard access, main-level laundry, and a spacious primary ensuite with whirlpool tub. The lower level functions as a 2-bedroom, 1-bathroom in-law suite, providing additional living space and rental income. The property currently generates $4,875/month in total rental income, with $2,600/month upstairs and $2,275/month downstairs, including internet and water. Electricity is divided 30/70 between the upstairs and basement. The home also features a private backyard, large deck, and numerous recent upgrades, including a new roof (2023), three heat pumps (2024), finished basement with electrical upgrades, new appliances, regravelled driveway (2026), and smart Mysa thermostats throughout. With strong rental income, flexible living arrangements, and extensive recent improvements, this is a fantastic move-in-ready property in a convenient Lakeside location.