29 Downes Avenue, Prince Edward County, ON
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Property Highlights
Welcome to this remarkable 2-Storey multiplex located in the coveted neighborhood of Picton Ward. Expertly crafted featuring premium brick construction, this residence presents an exceptional opportunity offered at $990,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 10 Bedrooms and 6 Bathrooms with 6 functional kitchens
- Generous living space spanning 2500-3000 sqft on a premium 88.29 x 102.31 ft lot
- Features a walk-out, finished with walk-out basement, adding superb versatility for recreation, a home gym, or extra storage
- 10.0 total parking spaces available
- Notable attributes: Separate Hydro Meter
- Efficient radiant heating via gas
Description
Well maintained 6-plex at the edge of downtown Picton, consisting of 4 two bedroom and 2 one bedroom units, being delivered entirely vacant upon closing. Each unit has been finished and maintained similarly to the unit shown in the photo reel and all units are separately metered. A large parking lot out front will provide ample parking for your future tenants. The owners fenced in the yard and created a relaxing retreat for the tenants with a gazebo and some patio furniture; perfect spot for other outdoor amenities of your choice. All tenants have access to coin laundry on the lower level where the 2 two bedroom units are also situated. Last years expenses are available and they are attractive. Taxes are an estimate based on the MPAC assessment of the property multiplied by the County of Prince Edward multiplex tax rate. This building is estimated to have a cap rate of 8% - 9% depending on your rents and how expenses are paid. Starting fresh with a property delivered vacant provides an opportunity to create the level of amenity that will garner great returns.
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