$1,499,900
Available - For Sale
Listing ID: X11947971
32 David St , Edwardsburgh/Cardinal, K0E 1X0, Ontario
| Discover 32 David, an exceptional Fourplex nestled in Spencerville, Ontario. Comprising four individually titled attached bungalows, these units offer 2 bedrooms, 1.5 baths, and an array of modern conveniences. Step inside to find elegant kitchens with granite countertops, ample cupboard space, and stainless steel appliances. The attached garages provide inside entry, while the backyard patios offer a retreat for residents. Each unit includes an unfinished basement with legal egress windows, presenting a prime value-add opportunity finish the space and add a third bedroom to significantly increase rental income and property value. With stackable washer/dryers and a well-designed layout, this property is built for both comfort and investment growth. Each unit is currently rented for $2,207 plus utilities, with rent increasing to $2,260 per month on April 1, 2025, for two units and on July 1, 2025, for the remaining two units. The annual rental income is currently $105,936, with a Net Operating Income (NOI) of $88,332, and will increase to $90,876 once the rent adjustments take effect. Estimated expenses include property taxes of $10,588, insurance of $4,280, and sewer charges of $2,736. Located in a peaceful neighborhood, 32 David offers easy access to local amenities and recreational facilities, making it an ideal choice for tenants seeking a tranquil yet convenient lifestyle. A rare opportunity to enhance income potential - don't miss out on this investment! Schedule your viewing today! |
| Price | $1,499,900 |
| Taxes: | $10588.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 32 David St , Edwardsburgh/Cardinal, K0E 1X0, Ontario |
| Postal Code: | K0E 1X0 |
| Province/State: | Ontario |
| Legal Description: | PART LOT 5 N/S DAVID STREET PLAN 40; PAR |
| Directions/Cross Streets: | 416 to Spencerville. Turn right onto highway 44, heading north. Then left onto Center Street. Left o |
| Category: | Apartment |
| Use: | Apts-2 To 5 Units |
| Building Percentage: | Y |
| Total Area: | 0.00 |
| Total Area Code: | Sq Ft |
| Approximatly Age: | 0-5 |
| Taxes Expense: | $10588 |
| Insurance Expense: | $4280 |
| Other Expenses: | $2736 |
| Operating Expenses: | $17604 |
| Net Income Before Debt: | $88332 |
| Year Expenses: | 2024 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 4 |
| Central Air Conditioning: | Y |
| Water: | Well |
| Water Supply Types: | Drilled Well |
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At a Glance:
| Type: | Com - Investment |
| Area: | Leeds and Grenville |
| Municipality: | Edwardsburgh/Cardinal |
| Neighbourhood: | 807 - Edwardsburgh/Cardinal Twp |
| Approximate Age: | 0-5 |
| Tax: | $10,588 |
| Baths: | 4 |
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