Property Information:

This well-maintained 6-plex presents an outstanding investment opportunity in the heart of Gananoque. Built in 1956 and situated on a large R2-zoned lot, the property offers excellent long-term value with a private parking lot at the rear for tenant convenience. Currently, five of the six units are occupied, providing immediate and stable rental income, while the sixth unit is vacant and available for July 1 occupancy, offering potential for increased cash flow through market rent. Ideally located close to schools, grocery stores, and other local amenities, the property remains highly attractive to tenants seeking convenience and accessibility. The building has demonstrated exceptional rental stability, maintaining an average vacancy rate of just 3.5% over the past five years, reflecting strong tenant demand in the area. Generating a strong Net Operating Income of more than $85,000, this property is a turnkey addition to any investment portfolio. Major capital improvements have already been completed, including new windows in 2016, a roof replacement in 2021, and a new furnace in 2024, helping to minimize future maintenance costs. With strong financial performance, proven occupancy, quality upgrades, ample parking, and a desirable location, this is a rare opportunity to acquire a solid multifamily asset in one of Eastern Ontario's most sought-after communities. (id:27)

Building Features:

Style: Multiplex
Building Type: Other
Basement Type: N/A
Exterior Finish: Aluminum siding, Concrete Block
Floor Space: 3500 - 5000 sqft
Foundation Type: Concrete
Heating Type: Radiant heat
Heating Fuel: Natural gas
Cooling Type: None
Appliances: Dryer, Oven, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 11+3
Bathrooms: 6
Floor Space (approx): 3500 - 5000 Square Feet
Irregular: Yes
Lot Depth: 133.2 Feet
Lot Frontage: 101.2 Feet
Lot Size: 101.3 x 133.2 FT
Utility Type: Hydro - Installed, Cable - Available, Sewer - Installed
Zoning: Residential - R2
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 6

Courtesy of: CENTURY 21 SYNERGY REALTY INC

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Demographic Information of 395 PINE STREET E, Gananoque, Ontario, K7G 1E2

Life Stage

Later Years

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$102,158.26

Average Number of Children

1.68

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

14.73 %

High school certificate or equivalent

29.03 %

Apprenticeship trade certificate/diploma

9.3 %

College/non-university certificate

27.88 %

University certificate (below bachelor)

1.06 %

University Degree

17.99 %

Commuter

Travel To Work

By Car

85.08 %

By Public Transit

0.0 %

By Walking

10.04 %

By Bicycle

0.64 %

By Other Methods

4.24 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

21.23 %

Houses

78.77 %

395 PINE STREET E, Gananoque, Ontario, K7G 1E2