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!
Address
32 David Street
List Price
$1,499,900
Property Type
Residential Freehold
Type of Dwelling
Fourplex
Style of Home
Bungalow
Area
Edwardsburgh/Cardinal
Sub-Area
807 - Edwardsburgh/Cardinal Twp
County
Leeds and Grenville
Bedrooms
8
Bathrooms
8
Lot Irregularities
1
Lot Size Units
Feet
Approx. Age
0 - 5 Years
MLS® Number
X11947441
Listing Brokerage
EXP REALTY
Basement Area
Full, Unfinished
Postal Code
K0E 1X0
Parking
Inside Entry, Lane
Parking Places (Total)
8
Tax Amount
$10,588.00
Tax Year
2024
Interior Features
Water Heater Owned, Water Treatment
Heat Source
Propane
Heat Type
Forced Air
Cooling Features
Central Air
Construction Materials
Vinyl Siding
Direction Faces
North
Foundation Details
Concrete
Garage Type
Attached
Kitchens Total
4
Pool Features
None
Roof
Asphalt Shingle
Water Source
Drilled Well
Sewer
Sewer
