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$1,100,000
Available - For Sale
Listing ID: X13639696
235 James Street West , Prescott, K0E 1T0, Leeds and Grenvi
| Turnkey legal 5-unit apartment building offering strong cash flow and extensive redevelopment in the heart of Prescott. Originally a duplex, this property has been comprehensively transformed into a modern income-producing asset while preserving its attractive brick exterior and character. Generating $93,300 in gross annual income with an approximate NOI of $78,820, the building offers an excellent unit mix of one 3-bedroom suite, two 2-bedroom suites (including an accessible unit), and two 1-bedroom suites, one of which is rented as an affordable unit. Extensive capital improvements include all new kitchens, bathrooms, flooring, lighting, interior doors, plumbing, electrical, nearly all new windows, repointed brick, new decks, upgraded insulation, modern mechanical systems, quality finishes throughout, and a durable standing seam metal roof. The building features an efficient utility structure with all tenants paying their own hydro and water. Two suites have their own dedicated heating systems and pay their own heat, while three suites are heated by an efficient central gas-fired hot water boiler. The accessible and affordable units may be of interest to purchasers exploring CMHC financing programs, subject to lender and CMHC eligibility requirements. Conveniently located within walking distance to downtown Prescott, the St. Lawrence River, shopping, restaurants, schools, and just minutes from Highway 401, this is an exceptional opportunity to acquire a true turnkey multi-family investment with significant capital improvements already completed. |
| Price | $1,100,000 |
| Taxes: | $3984.00 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 235 James Street West , Prescott, K0E 1T0, Leeds and Grenvi |
| Postal Code: | K0E 1T0 |
| Province/State: | Leeds and Grenvi |
| Directions/Cross Streets: | James St W and Edward St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 11220.00 |
| Total Area Code: | Square Feet |
| Water Expense: | $2050 |
| Net Income Before Debt: | $78820 |
| Expenses Actual/Estimated: | $Est |
| Washrooms: | 0 |
| Heat Type: | Gas Hot Water |
| Central Air Conditioning: | Yes |
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Anne Saint-Amour
Sales Representative
Bus:
905-878-8101
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Leeds and Grenville |
| Municipality: | Prescott |
| Neighbourhood: | 808 - Prescott |
| Tax: | $3,984 |
| Fireplace: | N |
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