New to market, a purpose-built legal triplex in Georgetown, Halton Hills, with three self-contained units, separate hydro and gas meters, five parking spaces and a lot that backs onto a walking trail and ravine. It sits inside the Georgetown GO Major Transit Station Area, the part of town Halton Hills is planning for future growth around the station [11]. Terry Riddoch and Marc Baskin of Re/Max Real Estate Centre are bringing it to market, and pricing is available on request.

This post covers the building, the location, the financials, and why Georgetown is worth a close look for investors who want a stable, low-maintenance multi-family property west of Toronto.

Note: Price and address has been withheld for reasons of privacy. Contact LA -  we just want to know who wants to know. Sources are cited with [x] and listed with hyperlinks at the bottom of this post.

Concept by Terry Riddoch - AI rendering: Georgetown Go Station in a town planned to grow 51% by 2041, 51 minutes from downtown Toronto, in a market of nearly one million people.

The building

The property is a one-storey brick bungalow, built in 1957 and set up as three legal units: two 2-bedroom units and one 1-bedroom unit, each with its own bathroom. Each unit has its own furnace, air conditioning and water heater, and its own hydro and gas meters, so tenants carry their own heat and electricity. The owner pays water, a small common-area hydro bill and the usual fixed costs.

The seller has kept up with the building. Recent work includes a new washer and coin boxes in the common laundry room (2021), a new hot water tank, replaced underground bathroom plumbing and new flooring in two units (2023), and a new dishwasher and air conditioning unit (2025). The roof is about 12 years old, and the building has annual fire inspections.

• Three legal, self-contained units: two 2-bedroom and one 1-bedroom
• Separate hydro and gas meters, furnaces, A/C and water heaters for each unit
• Five parking spaces
• Common coin laundry room for extra income
• About 5,683 sq ft lot backing onto a walking trail and ravine
• Zoned LDR1-2(MN) inside the Georgetown GO Major Transit Station Area

The location

Georgetown is the largest community in the Town of Halton Hills, which had 62,951 residents at the 2021 Census [1]. The town sits at the western edge of the GTA, about a 40-minute drive from Pearson Airport, with about 115 manufacturing companies of its own and easy access to jobs in Brampton, Mississauga and Milton [12].

Transit is the long-term story. Georgetown GO is on the Kitchener line with direct trains to Union Station, and Metrolinx is completing its assessment for track expansion between Bramalea and Georgetown, a project it says will help enable two-way, all-day GO service with more frequent trains [10]. In April 2026 the Town held a special Council meeting on a Protected Major Transit Station Area around Georgetown GO, which will guide future land use, building types and minimum densities near the station [11]. 17 Academy Rd is inside that station area.

Behind the building, a former rail line is now a walking trail, and the lot backs onto a ravine. Tenants get green space out the back door, and the owner gets a lot with no rear neighbours.

The financials

The building brings in $67,400 a year from rent and laundry. After $11,248 of operating expenses, it produces a net operating income of $56,152 (from seller records and 2025 to 2026 bills). Because tenants pay their own hydro and gas, expenses run at about 17% of income, which is low for an older building.

Property tax is the largest single cost. The 2026 final bill for the property is $4,618, and the remaining expenses are a mix of insurance, water, maintenance and small fixed costs.

There is also room to grow. Not every unit is at today's rents. Priced at the building's own most recent leases, the building would bring in about $12,200 more a year, roughly 18% above today's rent roll. In Ontario, rents for sitting tenants can only rise by the provincial guideline, which is 1.9% for 2027 [14], so the gap closes on turnover rather than overnight. All three tenancies are month to month.

Detailed rent rolls, leases and expense records are available to qualified buyers on request.

Why Georgetown is a good place to invest

Rental housing in Halton Hills is scarce. Halton Region reports that home ownership is highest in Halton Hills and Milton, and only 9% of the town's homes are condominiums, the lowest share in Halton [2]. Fewer condos means fewer investor-owned apartments competing for tenants, and that supports demand for well-kept multi-family buildings like this one.

Rents across Halton have climbed steadily. The average Halton two-bedroom rent rose from $1,636 in 2020 to $2,048 in 2024, an increase of 25%, while the regional vacancy rate stayed between 1.2% and 2.3%, below the 3% level usually considered balanced [4][5][6][7]. In CMHC's October 2025 survey, two-bedroom rents in the Milton and Halton Hills zone rose 6.2% in a year, almost double the 3.4% increase across the Toronto area [8].

Halton Hills is also the most affordable place to rent in Halton. In 2021, renter households in Halton Hills paid an average of $1,468 a month in shelter costs, compared with $1,706 in Burlington, $2,042 in Milton and $2,146 in Oakville [2]. That gap gives the town room for rents to keep rising while still drawing tenants priced out of neighbouring markets.

Growth is coming. Halton Hills grew only 2.9% between 2016 and 2021, well behind Milton and Oakville [1]. Halton Region's growth plan changes that, targeting about 95,000 residents in Halton Hills by 2041, roughly half again the town's 2021 population [3]. New residents will need places to rent long before new purpose-built rental supply catches up.

The home market has also reset. The median Georgetown sale price eased from $1,024,000 in Q2 2025 to $906,000 in Q2 2026, while sales recovered from 92 in Q1 2026 to 126 in Q2 2026 [9]. For investors, that means entry prices are lower than they were a year ago, while rents across Halton have kept rising. Borrowing costs have also stabilized, with the Bank of Canada holding its policy rate at 2.25% since October 2025 [13].

Who this property suits

• Investors looking for a stable, separately metered building with low owner-paid utilities
• Buyers who want a long-term hold in a growing town with GO transit and future station-area planning
• First-time multi-family buyers moving up from a single-family rental or duplex
• Buyers who may want to live in one unit and rent the other two

Frequently asked questions

Is this a legal triplex?

Yes. It is a purpose-built, three-unit building with three self-contained units, two 2-bedroom and one 1-bedroom.

What is the asking price?

Pricing is available on request. Contact Terry Riddoch or Marc Baskin for the price and the full financial package.

Who pays the utilities?

Each unit has its own hydro and gas meters, so tenants pay their own electricity and heat. The owner pays water, common-area hydro and the building's fixed costs.

Are the units rent controlled?

Yes. Rent increases for sitting tenants follow the Ontario rent increase guideline, which is 1.9% for 2027 [14].

How close is it to the GO train?

The property is inside the Georgetown GO Major Transit Station Area, served by GO trains on the Kitchener line to Union Station [10][11].

Is Georgetown the same as Halton Hills?

Georgetown is the largest community within the Town of Halton Hills. Zoning, taxes and planning come from the Town, and water from Halton Region.

How do I get more details and book a showing?

The property is listed by Terry Riddoch, Broker, and Marc Baskin, Sales Representative, of Re/Max Real Estate Centre. Contact either of us for pricing, the financial package or to book a showing. Showings require 24 hours' notice for tenants.

Terry Riddoch Blog Author Bio

Q4 2026 · @Terry Riddoch

519 591 1725  or [email protected]

About the Author: Terry Riddoch, Ontario Multi-Family and Commercial Real Estate Broker

Terry Riddoch is a licensed Ontario real estate broker with Re/Max Real Estate Centre, based in Waterloo Region and specializing in multi-family and apartment building sales across Ontario. With 19 years of experience and over $90 million in closed transactions, he advises independent landlords, private investors, and national investment groups on buying, selling, and valuing apartment buildings, investments and development land across the Province of Ontario including Waterloo Region (Kitchener, Waterloo and Cambridge), Guelph, Brantford, Hamilton, London, Milton, Windsor, Kingston, Belleville, Brockville and Sudbury.

Clients know Terry for candid advice, data-driven analysis, and doing the work well ahead of the deal. He writes regularly on Ontario landlord rules, rent control, the Landlord and Tenant Board, and housing policy to help property owners make informed decisions.

Thinking about selling an apartment building, or looking for your next investment property? Call Terry at (519) 591-1725, email [email protected], or visit terryriddoch.ca for a confidential, no-obligation conversation about your property.