Added 2 days ago
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Type: Investment
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Property Type: Commercial
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Business Type: Apts-2 To 5 Units
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Zoning: Residential - R3
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Age: New
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Taxes: 4000
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MLS®#: X11948004
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Days on Site: 2 Days
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Added: Jan 28, 2025 (2 days ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: EXP REALTY
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!
Property
Status: Sale
Type: Apts-2 To 5 Units
Property Type: Investment
Property Type: Apartment
Age: New
Net Income: 81262
Area: Prescott
Community: 808 - Prescott
Availability Date: TBD
Inside
Bathrooms: 4
Air Conditioning: Y
Washrooms: 4
Utilities
Utilities: Available
Building
Heat Type: Gas Hot Water
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Covered Parking Spaces: 8
Fees
Tax Year: 2024
Tax Legal Description: PT LT 9 BLK 7 PL 19 PRESCOTT AS IN PR34393; PRESCOTT
Taxes: $4,000
Expenses: Est
Insurance Fee: 2638
Operating Fees: 9938
Heat Expenses: 2000
Taxes Type: Annual
Taxes: 4000
Tax Year: 2024
Land
Cross Street: From Highway 401 tak
Municipality District: Prescott
Parcel Number: 681600078
Lot Depth: 118 Feet
Lot Frontage: 50 Feet
Zoning: Residential - R3
Additional Media
- Virtual Tour: https://www.youtube.com/watch?v=TogUkF6Mvog
Commercial Specific
Total Area: 5834
Total Area Metric: Sq Ft
Lot Code: Lot
South Edwardsburg Public School
Elementary: PublicCentennial 67 Public School
Elementary: PublicSouth Grenville Intermediate School
Elementary: PublicWellington Elementary Public School
Elementary: PublicMaynard Public School
Elementary: PublicSt. Mark Catholic School
Elementary: CatholicÉcole secondaire catholique Académie catholique Ange-Gabriel
Secondary: CatholicSeaway District High School
Secondary: PublicSouth Grenville District High School
Secondary: PublicBrockville Collegiate Institute
Secondary: PublicSt Mary's High School
Secondary: CatholicThousand Islands Secondary School
Secondary: Public