527 FRONT STREETQuinte West, ON, K8V 4R4

Property Description for 527 FRONT STREET

Investors take note. Looking for a great investment with long term tenants & 4 units generating rental income? That's right. This FOURPLEX is located in-town Trenton & offers a purpose-built 4-unit building. Duplexes are okay, Triplexes are good BUT this is a Fourplex which is the sweet spot for savvy real estate investors. With 4 units you greatly reduce vacancy losses due to more units bringing income. Fully Occupied with good tenants that take great care of the property. Strong monthly revenue produces over $42,000 of GROSS RENTAL INCOME. Hydro, Water/Sewer are metered separately (Landlord Pays Gas). Cap Rate Over 5.5%. Four units in total, 2 on Main & 2 on Lower. All Units have 1 Bd & 1 Bath, plus main entrances and secondary/emergency exits. Each unit also has their own patio areas plus there is a large, fenced yard that is shared. Unit 1 pays $650/Mth +Hydro & Water/Sewer. Tenant has been there approx. 13Yrs. Unit in excellent condition. Unit 2 is also in great condition & Tenant has been there since Sept. 2021. Tenant pays $875/Month +Hydro & Water/Sewer. Unit 3 has 1 Bd, 1 Bath. Tenant has been there 6.5Yrs & pays $650/Mth +Hydro, Water/Sewer. Unit 4 has was renovated 2022 with new vinyl flooring, new bath & updated kitchen. Tenant pays $1350/Mth +Hydro, Water/Sewer. Great income producing property & excellent tenants. Income statement avail upon request. Add this excellent building to your real estate investment portfolio. You wont be disappointed. **** EXTRAS **** Total monthly rental income - $3525. Total annual gross rental income - $42,300. Expenses approximately $9000 (see income and expenses document). Cap rate/return approximately 5.5%. Immediate possession available. (id:38686)