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Banmeet Bhatia

gtaestatehomes@gmail.com +1(647) 923-3013

$ 525,000

Est. payment | -/mo

8 Beds

4 Baths

Save

$ 525,000

Est. payment | -/mo

Save

8 Beds

4 Baths

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2500-3000

Subdivision 717 - Cornwall

MLS Listing ID X13801788

Style 2-Storey

Bedrooms 8

Annual Tax Amount $3,152

Tax Year 2025

Property Sub-Type Fourplex

Property Description

Excellent Fourplex Investment Opportunity - 10%+ Cap Rate! Located just 500m from St. Lawrence College, this well-located fourplex offers an excellent opportunity for investors looking to add a multi-residential property to their portfolio. The property is also approximately 900m from a grocery store and other amenities, with the nearest bus stop just 200m away. Each of the four units features 2 bedrooms and 1 bathroom, providing a practical and desirable layout for tenants. Each tenant has the right to one parking space located in front of the building. Current monthly rents: 207: $1,350/month - tenant pays own electricity, 207A: $1,750/month - landlord pays utilities, 207B: $1,250/month, 207C: $1,250.73/month. The property currently generates approximately $67,208.78 in total annual rental income, with estimated annual operating expenses of approximately $14,686.55, resulting in an estimated net operating income of $52,522.23. Based on the current income and expenses, the property offers a cap rate of over 10%, making this an attractive income-producing opportunity for investors. The property currently has a gas furnace serving both upper-level units, while the two main-level units have been converted to electric baseboard heating, allowing the tenants in those units to be responsible for their own electricity consumption. With four 2-bedroom units, dedicated parking, convenient access to public transportation, nearby amenities, and its close proximity to St. Lawrence College, this property presents an opportunity for both experienced and first-time investors. As per form 244 offers to contain a 48-hour irrevocability. All showings require minimum 48 hours notice.

Location

Province ON

County Stormont, Dundas And Glengarry

Area Stormont, Dundas And Glengarry

Rooms

Family Room No

Basement Unfinished

Kitchen 4

Interior

Interior Features Carpet Free, Water Meter

Cooling None

Fireplaces Type Other

Fireplace No

Heat Source Other

Exterior

Parking Features Front Yard Parking

Pool None

Roof Type Flat,Membrane

Lot Frontage 50.0

Lot Depth 67.0

Total Parking Spaces 4

Building

Foundation Concrete

Others

ParcelsYN No

Listed by RE/MAX AFFILIATES MARQUIS LTD.

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207 Alice ST Cornwall, ON K6H 4R8