207 Alice Street,Cornwall, ON K6H4R8
Cornwall, ON K6H4R8
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. (id:374)
Details
| MLS # | X13801788 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 32 |
| Listing Provided By | RE/MAX AFFILIATES MARQUIS LTD. | Nick Longchamps |
Features
| Bed(s) | 8 |
|---|---|
| Bath(s) | 4 Total |
| SQ Feet | 2,500 |
| Basement | Y |
| Story(s) | 2 |
Interior
| Cooling | None |
|---|---|
| Heating | Baseboard heaters, Forced air, Other |
| Appliances | Water meter |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Carpet Free |
|---|---|
| Foundation Details | Concrete |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3152 |
|---|---|
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| City | Cornwall |
| Postal Code | K6H4R8 |
| Listing VS Median (in K6H4R8) | |
Price: $525,000 low | high Med: $525,000 sqft: 2,500 low | high Med: 2,500 $ / sqft: $210 low | high Med: $210 On site: 32 low | high Med: 32 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Cornwall |
| Postal Code | K6H4R8 |
| Listing VS Median (in K6H4R8) | |
Price: $525,000 low | high Med: $525,000 sqft: 2,500 low | high Med: 2,500 $ / sqft: $210 low | high Med: $210 On site: 32 low | high Med: 32 | |
