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$ 1,225,000
Est. payment /mo
New
395 Pine ST E Gananoque, ON K7G 1E2
14 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision 05 - Gananoque
MLS Listing ID X13509382
Style 3-Storey
Bedrooms 14
Annual Tax Amount $5,664
Tax Year 2025
Property Sub-Type Multiplex
Property Description
This well-maintained 6-plex presents an outstanding investment opportunity in the heart of Gananoque. Built in 1956 and situated on a large R2-zoned lot, the property offers excellent long-term value with a private parking lot at the rear for tenant convenience. Currently, five of the six units are occupied, providing immediate and stable rental income, while the sixth unit is vacant and available for July 1 occupancy, offering potential for increased cash flow through market rent. Ideally located close to schools, grocery stores, and other local amenities, the property remains highly attractive to tenants seeking convenience and accessibility. The building has demonstrated exceptional rental stability, maintaining an average vacancy rate of just 3.5% over the past five years, reflecting strong tenant demand in the area. Generating a strong Net Operating Income of more than $85,000, this property is a turnkey addition to any investment portfolio. Major capital improvements have already been completed, including new windows in 2016, a roof replacement in 2021, and a new furnace in 2024, helping to minimize future maintenance costs. With strong financial performance, proven occupancy, quality upgrades, ample parking, and a desirable location, this is a rare opportunity to acquire a solid multifamily asset in one of Eastern Ontario's most sought-after communities.
Location
Province ON
County Leeds And Grenville
Area Leeds And Grenville
Rooms
Family Room No
Basement Apartment
Kitchen 8
Separate Den/Office 3
Interior
Interior Features Water Heater Owned
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Available, Private
Pool None
Waterfront Description None
Roof Type Asphalt Shingle
Lot Frontage 101.33
Lot Depth 133.16
Total Parking Spaces 6
Building
Building Age 51-99
Foundation Concrete
Others
ParcelsYN No
Listed by CENTURY 21 SYNERGY REALTY INC
