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
Commercial
Type of Dwelling
Investment
Area
Edwardsburgh/Cardinal
Sub-Area
807 - Edwardsburgh/Cardinal Twp
County
Leeds and Grenville
Bathrooms
4
Lot Type
Building
Lot Irregularities
1
Lot Size Units
Feet
Approx. Age
0 - 5 Years
MLS® Number
X11947971
Listing Brokerage
EXP REALTY
Postal Code
K0E 1X0
Tax Amount
$10,588.00
Tax Year
2024
Heat Type
Propane Gas
Cooling Features
Yes
Garage Type
In/Out
Kitchens Total
4
Water Source
Drilled Well
