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$ 1,225,000
Est. payment /mo
Active
395 PINE STREET E Gananoque, ON K7G1E2
14 Beds
6 Baths
3,500 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500 - 5000
Square Footage 3,500 sqft
Price per Sqft $350
Subdivision 05 - Gananoque
MLS® Listing ID X13509382
Bedrooms 14
Property Description
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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Radiant heat
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 6
Garage No
Private Pool No
Building
Story 3
Sewer Sanitary sewer
Listed by CENTURY 21 SYNERGY REALTY INC