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Maria Tompson
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$1,499,900
Available - For Sale
Listing ID: X11947971
Discover 32 David, an exceptional Fourplex nestled in Spencerville, Ontario. Comprising four individually titled attached bungalows, these units offer 2 bedrooms, 1.5 baths, and an array of modern conveniences. Step inside to find elegant kitchens with granite countertops, ample cupboard space, and stainless steel appliances. The attached garages provide inside entry, while the backyard patios offer a retreat for residents. Each unit includes an unfinished basement with legal egress windows, presenting a prime value-add opportunity finish the space and add a third bedroom to significantly increase rental income and property value. With stackable washer/dryers and a well-designed layout, this property is built for both comfort and investment growth. Each unit is currently rented for $2,207 plus utilities, with rent increasing to $2,260 per month on April 1, 2025, for two units and on July 1, 2025, for the remaining two units. The annual rental income is currently $105,936, with a Net Operating Income (NOI) of $88,332, and will increase to $90,876 once the rent adjustments take effect. Estimated expenses include property taxes of $10,588, insurance of $4,280, and sewer charges of $2,736. Located in a peaceful neighborhood, 32 David offers easy access to local amenities and recreational facilities, making it an ideal choice for tenants seeking a tranquil yet convenient lifestyle. A rare opportunity to enhance income potential - don't miss out on this investment! Schedule your viewing today!
Price $1,499,900
Taxes: $10,588
Tax Type: Annual
Occupancy by: Tenant
Address: 32 David St , Edwardsburgh/Cardinal, K0E 1X0, Ontario
Postal Code: K0E 1X0
Province/State: Ontario
Legal Description: PART LOT 5 N/S DAVID STREET PLAN 40; PAR
Directions/Cross Streets: 416 to Spencerville. Turn right onto highway 44, heading north. Then left onto Center Street. Left o
Zoning: R3-6
Category: Apartment
Use: Apts-2 To 5 Units
Building Percentage: Y
Total Area: 0
Total Area Code:  Sq Ft
Approximatly Age: 0-5
Taxes Expense: $10588
Insurance Expense: $4280
Other Expenses: $2736
Operating Expenses: $17604
Net Income Before Debt: $88332
Year Expenses: 2024
Expenses Actual/Estimated: $Act
Central Air Conditioning: Y
Water: Well
Water Supply Types: Drilled Well
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Asking Price: $ Heating: $ /Year  
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Taxes:   $ /Year Other Debt: $ /Year  
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First Mortgage $ $ $ $
CMHC/GE $ $ $ $
Total Financing $ $ $ $
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EXP REALTY

32 David St , Edwardsburgh/Cardinal, K0E 1X0, Ontario

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Maria Tompson
Sales Representative
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Type: Com - Investment
Area: Leeds and Grenville
Municipality: Edwardsburgh/Cardinal
Neighbourhood: 807 - Edwardsburgh/Cardinal Twp
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Lot Size: 0.00 x 0.00(Feet)
Approximate Age: 0-5
Tax: $10,588
Maintenance Fee: $0
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Garage: 0
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