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$ 525,000
Est. payment /mo
New
207 Alice ST Cornwall, ON K6H 4R8
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision 717 - Cornwall
MLS Listing ID X13801788
Style 2-Storey
Bedrooms 8
Annual Tax Amount $3,152
Tax Year 2025
Property Sub-Type Fourplex
Property Description
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.
Location
Province ON
County Stormont, Dundas And Glengarry
Area Stormont, Dundas And Glengarry
Rooms
Family Room No
Basement Unfinished
Kitchen 4
Interior
Interior Features Carpet Free, Water Meter
Cooling None
Fireplaces Type Other
Fireplace No
Heat Source Other
Exterior
Parking Features Front Yard Parking
Pool None
Roof Type Flat,Membrane
Lot Frontage 50.0
Lot Depth 67.0
Total Parking Spaces 4
Building
Foundation Concrete
Others
ParcelsYN No
Listed by RE/MAX AFFILIATES MARQUIS LTD.