For Sale: 55/63 Russell Street, Summerside, PE

About this home

Located at 55?63 Russell Street in Summerside, Prince Edward Island, this offering presents an opportunity to acquire a modern 16-unit multi-residential investment property comprising two purpose-built 8-unit apartment buildings. Built in 2020 by AFFLECK Construction, the property offers investors the benefits of newer construction, functional unit layouts, and potentially reduced near-term capital expenditure requirements compared with older multi-family inventory. All 16 residential units feature a two-bedroom, one-bathroom layout, with each unit including in-suite laundry with its own washer and dryer, along with a fully equipped kitchen featuring a stove, refrigerator, dishwasher, and microwave. The property is currently fully occupied, providing an established rental income stream and a stable operating profile. Its combination of modern construction, consistent unit configuration, and full occupancy makes it well suited to investors seeking a quality income-producing asset with long-term holding potential. The property is conveniently located in Summerside with access to shopping, schools, employment, healthcare, public services, and other everyday amenities, supporting continued tenant demand and long-term rental appeal. This offering is suitable for experienced multi-residential investors, portfolio owners seeking to expand their holdings, and qualified purchasers looking to acquire a substantial rental asset in Prince Edward Island. A detailed rent roll, operating statements, and supporting financial information are available to qualified purchasers upon request. To respect tenant privacy and minimize disruption, showings will be arranged for serious and financially qualified purchasers only, with a minimum of 48 hours? notice. 55?63 Russell Street offers a compelling opportunity to acquire a fully occupied, relatively modern 16-unit multi-residential asset in one of Prince Edward Island?s key regional markets. (id:63626)

Listed by: Yan Ming (Edward) Zhang, ROYAL LEPAGE PRINCE EDWARD REALTY

Home facts and features

Price details

List Price

$3,480,000

Home facts

Bedrooms

Full Bathrooms

Parking Details

Parking Space(s)

Property Type

Multifamily

Lot Size

33976 ft²

Depth

Title

Freehold

Exterior Finish

Vinyl

Heating Type

Space Heater, Electric, Wall Mounted Heat Pump

Cooling

Air exchanger

Features

Laundry Facility

Appliances

Dishwasher, Intercom, Microwave Range Hood Combo, Refrigerator, Stove, Washer/Dryer Combo

Agent details

Primary Agent

Yan Ming (Edward) Zhang

Primary Broker

ROYAL LEPAGE PRINCE EDWARD REALTY

Listing details

Days on REW

21 Days

Property Views

MLS® Number

202622661

Source

Canadian Real Estate Association

Board

Prince Edward Island Real Estate Association

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Property Insights

Schools nearby

6 Schools are within 3km

Parkside Elementary School

n/a
K - 6

Summerside Intermediate School

n/a
7 - 9

Three Oaks Senior High School

n/a
10 - 12

Elm Street Elementary School

n/a
K - 6

Athena Consolidated School

n/a
K - 9

Greenfield Elementary School

n/a
K - 6

55/63 Russell StreetSummerside, PE, C1N 2T4