Property Information:

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. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Amenities:
Basement Development: Unfinished
Basement Type: N/A
Exterior Finish: Brick
Floor Space: 2500 - 3000 sqft
Foundation Type: Concrete
Heating Type: Baseboard heaters, Forced air
Heating Fuel: Other
Cooling Type: None
Appliances: Water meter

Property Features:

Property Type: Multi-family
Bedrooms: 8
Bathrooms: 4
Features: Carpet Free
Floor Space (approx): 2500 - 3000 Square Feet
Irregular: Yes
Lot Depth: 67 Feet
Lot Frontage: 50 Feet
Lot Size: 50 x 67 FT
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 4

Courtesy of: RE/MAX AFFILIATES MARQUIS LTD.

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Demographic Information of 207 ALICE STREET, Cornwall, Ontario, K6H 4R8

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$64,929.33

Average Number of Children

1.71

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

31.21 %

High school certificate or equivalent

36.57 %

Apprenticeship trade certificate/diploma

5.82 %

College/non-university certificate

22.35 %

University Degree

4.04 %

Commuter

Travel To Work

By Car

78.67 %

By Public Transit

7.18 %

By Walking

7.29 %

By Bicycle

0.0 %

By Other Methods

6.86 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

50.8 %

Houses

49.2 %

207 ALICE STREET, Cornwall, Ontario, K6H 4R8