Inside the home
This is a four-unit income property in a solid 1890 buff brick building on a large downtown lot. The units are in noticeably different condition. Unit 2 has been fully updated with white shaker cabinets, subway tile backsplash, stainless appliances, and a renovated bathroom — it photographs well. Unit 1 has had partial updates including new flooring and paint. Units 3 and 4 still have original-era kitchens that will need work. The building has separate hydro meters, a new furnace installed in 2025, and rear parking. The shared common areas are functional but bare. The rear extension and outbuilding show their age. At the listed rent roll and price, buyers should verify the cap rate claim independently and budget for ongoing unit-by-unit upgrades as tenancies turn over.
- Solid 1890 buff brick construction on a large 52x160 ft lot
- Unit 2 fully renovated with white shaker kitchen, subway tile backsplash, stainless appliances, and updated bathroom
- Four above-grade units generating positive cash flow
- Separate hydro meters for each unit
- New furnace installed 2025
- Large shared backyard with rear fencing
- Rear parking for multiple vehicles
Excellent opportunity to acquire a solid fourplex with positive cashflow and Over 8% Caprate with future upside. This detached, fully brick two-storey property with rear extension offers approximately 2,980 sq. ft. above grade, plus an unfinished basement, on a large 52 x 160 ft. lot. The building features four above-grade units, including two 2-bedroom units on the ground floor and two 1-bedroom units on the second floor. There is also a large shared storage room with potential to be converted into a common laundry area. The property includes separate hydro meters, 4 parking spots and has been professionally maintained previously. Current/Estimated total rent is $68,307, with expenses of $13,084, resulting in net operating income of $55,223. Significant improvements have been completed in recent years, including a new furnace in 2025, updated kitchens, new flooring, painting, drywall repairs, bathroom renovations, and more. Large shared backyard that is fully fenced at the back, lots of potential for accessory or additional storage use. Very Close to Downtown to Wilfred Laurier University, Conestoga College, Casino, TD Civic Centre, Harmony Square, the Downtown Strip & More. Close to Bus-Stops, Laundromats, Parks, Trails, Schools, Library & More. One of the Best Multi-Residential Properties in the City Offering All Solid Fundamentals, Great to Add to Your Investment Portfolio.