For Sale: 207 Alice Street, Cornwall, ON - REW
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$525,000
8 bd • 4 ba • 2500 - 2999 sf • Multifamily
207 Alice Street
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$525,000
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207 Alice StreetCornwall, ON, K6H 4R8

  • 8 Bed
  • 4 Bath
  • 2500 - 2999 Sqft
  • Multifamily

About this home

Excellent Fourplex Investment Opportunity - 10%+ Cap Rate! Located just 500m from St. Lawrence College, this well-located fourplex offers an excellent opportunity for investors looking to add a multi-residential property to their portfolio. The property is also approximately 900m from a grocery store and other amenities, with the nearest bus stop just 200m away. Each of the four units features 2 bedrooms and 1 bathroom, providing a practical and desirable layout for tenants. Each tenant has the right to one parking space located in front of the building. Current monthly rents: 207: $1,350/month - tenant pays own electricity, 207A: $1,750/month - landlord pays utilities, 207B: $1,250/month, 207C: $1,250.73/month. The property currently generates approximately $67,208.78 in total annual rental income, with estimated annual operating expenses of approximately $14,686.55, resulting in an estimated net operating income of $52,522.23. Based on the current income and expenses, the property offers a cap rate of over 10%, making this an attractive income-producing opportunity for investors. The property currently has a gas furnace serving both upper-level units, while the two main-level units have been converted to electric baseboard heating, allowing the tenants in those units to be responsible for their own electricity consumption. With four 2-bedroom units, dedicated parking, convenient access to public transportation, nearby amenities, and its close proximity to St. Lawrence College, this property presents an opportunity for both experienced and first-time investors. As per form 244 offers to contain a 48-hour irrevocability. All showings require minimum 48 hours notice. (id:63626)
Listed by: Nick Longchamps, Salesperson, RE/MAX AFFILIATES MARQUIS LTD.

Home facts and features

Price details
List Price
$525,000
Get Pre-Approved
Gross Taxes for 2025
$3,152
Home facts
Bedrooms
8
Full Bathrooms
4
Parking Spaces
4
Parking Details
No Garage
Property Type
Multifamily
Lot Size
50 ft x 67 ft (3350 ft²)
Depth
67 feet
Frontage
50.0 feet
Exterior Finish
Brick
Heating Type
Baseboard heaters, Forced air, Other
Basement Details
Unfinished,
Features
Carpet Free, Fireplace(s)
Appliances
Water meter
Agent details
Primary Agent
Nick Longchamps
Primary Broker
RE/MAX AFFILIATES MARQUIS LTD.
Listing details
Days on REW
2 Days
MLS® Number
X13801788
Source
Canadian Real Estate Association
Board
Cornwall & District Real Estate Board
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Purchase Price
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25 Years
Interest Rate
3.99%

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Property Insights

ÉEP L'Héritage
  • Public
  • 7 - 8
Citadelle School
  • Catholic
  • 7 - 12
Immaculate Conception School
  • Catholic
  • JK - 6
St Lawrence School
  • Public
  • 7 - 12
Central Public School
  • Public
  • JK - 6
Bridgewood Public School
  • Public
  • JK - 6
Cornwall Collegiate
  • Public
  • 7 - 12
ÉEP Rose des Vents
  • Public
  • JK - 6
St Peter's School
  • Catholic
  • JK - 6
St. Matthew School
  • Catholic
  • 9 - 12
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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613-938-8100
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