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207 Alice St, Cornwall, ON

Name: 207 Alice St, For Sale in Cornwall - Zoocasa
Brand: RE/MAX AFFILIATES MARQUIS LTD.
SKU: X13801788
Price: 525000 CAD

House

For Sale

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844

MLS® X13801788

Overview

Key Facts

Type Quadruplex

Levels Residential Income

Size -

Garage Yes

Taxes $3,152

Days Active 2

Lot Size

Approx. Age

MLS® Number X13801788

Property Address: 207 Alice Street, Cornwall, ON, K6H4R8

Average square foot calculated using Size range provided by listing agent.

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:58753)Show Description

MLS® NumberX13801788

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageYes

Approx. Age

BasementUnfinished, N/A

DrivewayNo Garage

Garage Spaces

HeatBaseboard heaters, Forced air, Other

A/CNone

Extras

Map

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