527 Front Street Quinte West, Ontario K8V 4R4
$589,900
Investors take note. Looking for a great investment with long term tenants & 4 units generating rental income? That's right. This FOURPLEX is located in-town Trenton & offers a purpose-built 4-unit building. Duplexes are okay, Triplexes are good BUT this is a Fourplex which is the sweet spot for savvy real estate investors. With 4 units you greatly reduce vacancy losses due to more units bringing income. Fully Occupied with good tenants that take great care of the property. Strong monthly revenue produces over $42,000 of GROSS RENTAL INCOME. Hydro, Water/Sewer are metered separately (Landlord Pays Gas). Cap Rate Over 5.5%. Four units in total, 2 on Main & 2 on Lower. All Units have 1 Bd & 1 Bath, plus main entrances and secondary/emergency exits. Each unit also has their own patio areas plus there is a large, fenced yard that is shared. Unit 1 pays $650/Mth +Hydro & Water/Sewer. Tenant has been there approx. 13Yrs. Unit in excellent condition. Unit 2 is also in great condition & Tenant has been there since Sept. 2021. Tenant pays $875/Month +Hydro & Water/Sewer. Unit 3 has 1 Bd, 1 Bath. Tenant has been there 6.5Yrs & pays $650/Mth +Hydro, Water/Sewer. Unit 4 has was renovated 2022 with new vinyl flooring, new bath & updated kitchen. Tenant pays $1350/Mth +Hydro, Water/Sewer. Great income producing property & excellent tenants. Income statement avail upon request. Add this excellent building to your real estate investment portfolio. You wont be disappointed. **** EXTRAS **** Total monthly rental income - $3525. Total annual gross rental income - $42,300. Expenses approximately $9000 (see income and expenses document). Cap rate/return approximately 5.5%. Immediate possession available. (id:51737)
Property Details
| MLS® Number | X10408156 |
| Property Type | Single Family |
| AmenitiesNearBy | Marina |
| CommunityFeatures | Community Centre, School Bus |
| Features | Level |
| ParkingSpaceTotal | 4 |
Building
| BathroomTotal | 4 |
| BedroomsAboveGround | 2 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 4 |
| ArchitecturalStyle | Bungalow |
| BasementDevelopment | Finished |
| BasementType | Full (finished) |
| ExteriorFinish | Stucco |
| FoundationType | Block |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 1 |
| SizeInterior | 1999.983 - 2499.9795 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| FenceType | Fenced Yard |
| LandAmenities | Marina |
| LandscapeFeatures | Landscaped |
| Sewer | Sanitary Sewer |
| SizeDepth | 118 Ft ,9 In |
| SizeFrontage | 37 Ft ,1 In |
| SizeIrregular | 37.1 X 118.8 Ft |
| SizeTotalText | 37.1 X 118.8 Ft|under 1/2 Acre |
| ZoningDescription | R3 |
Utilities
| Sewer | Installed |
https://www.realtor.ca/real-estate/27618049/527-front-street-quinte-west
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November 06 2024 07:56:18
Durham Region Association of REALTORS®
Royal LePage Proalliance Realty