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Maria Tompson
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$1,149,900
Available - For Sale
Listing ID: X11948004
Attention Investors! Brand-New 2024-Built 4-Plex in Prime Prescott Location. Discover a rare opportunity to own a brand-new, purpose-built 4-plex in the heart of Prescott! Completed in 2024, this low-maintenance investment property is fully tenanted with leases that began in 2024, ensuring immediate rental income and future growth. Ideally located downtown, 642 West St. offers unparalleled convenience just minutes from schools, shopping, restaurants, Hwy 401, and the scenic St. Lawrence River. Prescott is a growing community with expanding job opportunities, making it an attractive rental market. Each of the four modern 2-bedroom, 1-bath units features an open-concept layout, durable vinyl flooring, stylish kitchens with stainless steel appliances (including dishwashers), and in-unit stackable washers & dryers. Recessed pot lights add a contemporary touch, while an efficient hot water boiler system provides comfortable heating. Current Rent Roll (All Tenants Pay Hydro, Water & Sewer, Heat Included): Upper Units: $2,000/month each (Increasing to $2,050/month in May & July 2025). Lower Units: $1,800/month each (Increasing to $1,845/month in June & July 2025). Total Current Annual Rental Income: $91,200. Total Annual Rental Income After Rent Increases (2025): $93,780. Estimated Annual Expenses (Property is yet to be assessed and has not been operated for a full year): Property Taxes: $4,000 (Estimated). Insurance: $2,638 (Actual). Heating: $2,000 (Estimated Gas Hot Water Boiler System). Lawn Care & Snow Removal: $1,300 (Actual). Current Net Operating Income (NOI): $81,262. Projected NOI After Rent Increases (2025): $83,842. With parking for 8 vehicles and a location in a steadily growing rental market, this turnkey investment is the perfect addition to your portfolio. Interior pictures are prior to occupancy. Don't miss out, contact us today for more details!
Price $1,149,900
Taxes: $4,000
Tax Type: Annual
Occupancy by: Tenant
Address: 642 West St , Prescott, K0E 1X0, Ontario
Postal Code: K0E 1X0
Province/State: Ontario
Legal Description: PT LT 9 BLK 7 PL 19 PRESCOTT AS IN PR343
Lot Size: 50 x 118 (Feet)
Directions/Cross Streets: From Highway 401 take Edward St south, turn right onto Dibble St W. Turn right onto West St.
Zoning: Residential - R3
Category: Apartment
Use: Apts-2 To 5 Units
Building Percentage: Y
Total Area: 5,834
Total Area Code:  Sq Ft
Approximatly Age: New
Taxes Expense: $4000
Insurance Expense: $2638
 Heat Expenses: $2000
Operating Expenses: $9938
Net Income Before Debt: $81262
Year Expenses: 2024
Expenses Actual/Estimated: $Est
Heat Type: Gas Hot Water
Central Air Conditioning: Y
Water: Municipal
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EXP REALTY

642 West St , Prescott, K0E 1X0, Ontario

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Maria Tompson
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Type: Com - Investment
Area: Leeds and Grenville
Municipality: Prescott
Neighbourhood: 808 - Prescott
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Lot Size: 50.00 x 118.00(Feet)
Approximate Age: New
Tax: $4,000
Maintenance Fee: $0
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Baths: 4
Garage: 0
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