32 David Street, Edwardsburgh/Cardinal | Image 1

32 David Street

Edwardsburgh/Cardinal, 807 - Edwardsburgh/Cardinal Twp

  • Commercial

$1,499,900
For Sale

Added 2 weeks ago

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  • Type: Investment

  • Property Type: Commercial

  • Business Type: Apts-2 To 5 Units

  • Zoning: R3-6

  • Age: 0-5 years

  • Taxes: 10588

  • MLS®#: X11947971

  • Days on Site: 2 Days

  • Added: Jan 28, 2025 (2 weeks ago)

  • Updated:

  • Last Checked: 2 hours ago

  • Listed By: EXP REALTY

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!

Property

  • Status: Sale

  • Type: Apts-2 To 5 Units

  • Property Type: Investment

  • Property Type: Apartment

  • Age: 0-5

  • Net Income: 88332

  • Area: Edwardsburgh/Cardinal

  • Community: 807 - Edwardsburgh/Cardinal Twp

  • Availability Date: TBD

Inside

  • Bathrooms: 4

  • Air Conditioning: Y

  • Washrooms: 4

Utilities

  • Utilities: Available

Building

  • Water Supply Type: Drilled Well

  • Freestanding: Y

  • Water Supply: Well

Parking

  • Garage Type: In/Out

  • Covered Parking Spaces: 4

Fees

  • Tax Year: 2024

  • Tax Legal Description: PART LOT 5 N/S DAVID STREET PLAN 40; PART BRUCE STREET PLAN 40 C

  • Taxes: $10,588

  • Expenses: Act

  • Insurance Fee: 4280

  • Operating Fees: 17604

  • Other Expenses: 2736

  • Taxes Type: Annual

  • Taxes: 10588

  • Tax Year: 2024

Land

  • Cross Street: 416 to Spencerville.

  • Municipality District: Edwardsburgh/Cardinal

  • Parcel Number: 681410540

  • Lot Irregularities: 1

  • Zoning: R3-6

Commercial Specific

  • Total Area Metric: Sq Ft

  • Lot Code: Building

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Map of 32 David Street, Edwardsburgh/Cardinal
JK-6

South Edwardsburg Public School

Elementary: Public
12.18 km
JK-6

Centennial 67 Public School

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0.63 km
7-8

South Grenville Intermediate School

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Wellington Elementary Public School

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Maynard Public School

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St. Mark Catholic School

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École secondaire catholique Sainte-Marguerite-Bourgeoys, Kemptville

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Brockville Collegiate Institute

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