401-403 Water Street East, Cornwall - Multi-family for Sale

Description

Are you looking for a wonderful property with a great income? Look no further. This 5-plex is centrally located near the St. Lawrence and all its amenities, including the mall, bus routes, and local shops. While originally built in 1986, the property has been well-maintained with a brick exterior makeover, new roof shingles in 2020, and new sidewalks on the corner and west side. The building features two larger units on the ground floor with spacious living rooms and kitchens, plus three units on the upper level, one of which has been recently renovated. Each unit has a separate hydro meter. New tenants can be signed as rent + hydro (one upper unit is already paying their own hydro). Hot water is provided by a cost-saving, gas, on-demand system. Each unit includes its own laundry hookups, with the exception of one upper unit. There 4 parking spots at the back of the building. Schedule your showing to check out this cared-for 5 plex. "Other" expense is natural Gas $785.64/year for on demand HW. Gross yearly income is currently $53,508.00. (January 2027 will be $60,938.00 when fully rented). Expenses are $10,878.00. Net income currently is $42,629.50. 48 hour notice required for showings. (id:66096)

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