Homes for sale - 527 FRONT STREET, Quinte West, ON K8V4R4

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RE/MAX Generation

generationremax@gmail.com +1(250) 858-5465

$589,900

Est. payment - /mo

4 Beds

4 Baths

1,999 SqFt

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UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 1,999 sqft

Price per Sqft $295

MLS® Listing ID X10408156

Style Bungalow

Bedrooms 4

Originating Board Central Lakes Association of REALTORS®

Property Description

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. Visit my website for further information about this Listing. **** 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:24570)

Location

Province ON

Interior

Heating Forced air

Exterior

Parking Features No

Fence Fenced yard

Community Features Community Centre, School Bus

View Y/N No

Total Parking Spaces 4

Private Pool No

Building

Lot Description Landscaped

Story 1

Sewer Sanitary sewer

Architectural Style Bungalow

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Listed by ROYAL LEPAGE PROALLIANCE REALTY

+1(250) 882-3335

alex@victoriahomes.com

527 FRONT STREET Quinte West, ON K8V4R4