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STAN KHURANA
Sales Representative


Cell: 647-383-6000
Office: 905-883-1988
Fax: 905-883-8108

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CENTURY 21 ATRIA REALTY INC., BROKERAGE
Independently owned and operated.
C200-1550 Sixteenth Ave Bldg C Richmond Hill, ON L4B3K9


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$499,000
Available - For Sale
Listing ID: X13773884
Excellent opportunity to own a solid income-producing 4-plex in Lanark, generating $56,400 in gross annual rental income. The property consists of four rental units. The 1st-floor 2-bedroom apartment rents for $1,350 per month, while the 2nd-floor 1-bedroom apartment rents for $1,200 per month. There are also two 2-bedroom apartments occupying the 1st and 2nd floors, renting for $650 and $1,500 per month respectively. That gives the property a total rental income of approximately $4700 per month, or $56,400 annually. The annual operating expenses are very reasonable. Property taxes are $4,019.07 per year, insurance is $3,520, hydro is $600, and propane is $1,400, total annual expenses to approximate $9,539.07. There are also several desirable features that make this property attractive from both an investment maintenance standpoint. The building has a steel roof, copper wiring with breaker panels, hardwood floors, a newer water pressure tank, and a full basement that provides plenty of storage space. The property uses a propane hot-water tank, and all tenants pay their own hydro and heating costs, helping to keep the owner's operating expenses down. Lanark is approximately 45 minutes from downtown Ottawa, 10 miles north of Perth, and about 20 minutes west of Carleton Place. The community offers the everyday amenities tenants need, including a grocery store, gas station, library, town hall, pizzeria, chip stands, and more. Lanark is also attracting increasing attention from Ottawa buyers looking for more affordable real estate and income-producing properties outside the city. For investors looking for cash flow, affordability, and long-term potential, this is a property worth taking a serious look at - before Lanark values move even higher.
Price $499,000
Taxes: $4,019.07
Occupancy by: Tenant
Address: 98 North Street , Lanark Highlands, K0G 1K0, Lanark
Directions/Cross Streets: North and George Street
Rooms: 12
Bedrooms: 6
Bedrooms +: 0
Washrooms: 4
Family Room: F
Basement: Unfinished
Other
No. of Pieces Level
Washroom 1:  4 Main
Washroom 2:  4 Main
Washroom 3:  4 Second
Washroom 4:  4 Second
Washroom 5:  0
Washroom 6:  4 Main
Washroom 7:  4 Main
Washroom 8:  4 Second
Washroom 9:  4 Second
Washroom 10:  0
Washroom 11:  4 Main
Washroom 12:  4 Main
Washroom 13:  4 Second
Washroom 14:  4 Second
Washroom 15:  0
Property Type: Fourplex
Style: 2-Storey
Exterior: Aluminum Siding
Garage Type: None
(Parking/)Drive: Private
Drive Parking Spaces: 4
Park #1
Parking Type: Private
Park #2
Parking Type: Private
Pool: None
Approximatly Square Footage: 2500-3000
Property Features: Public Trans
School
CAC Included: N
Water Included: N
Cabel TV Included: N
Common Elements Included: N
Heat Included: N
Parking Included: N
Condo Tax Included: N
Building Insurance Included: N
Fireplace/Stove: N
Heat Type: Baseboard
Central Air Conditioning: None
Central Vac: N
Laundry Level: Syste
Ensuite Laundry: F
Sewers: Septic
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Asking Price: $ Heating: $ /Year  
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Although the information displayed is believed to be accurate, no warranties or representations are made of any kind.
RE/MAX HALLMARK REALTY GROUP

98 North Street , Lanark Highlands, K0G 1K0, Lanark

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Stan Khurana
Sales Representative
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6473836000
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905-883-1988

 
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At a Glance:
Type: Freehold - Fourplex
Area: Lanark
Municipality: Lanark Highlands
Neighbourhood: 919 - Lanark Highlands (Lanark Village)
Style: 2-Storey
Lot Size: x 60.00(Feet)
Approximate Age:
Tax: $4,019.07
Maintenance Fee: $0
Beds: 6
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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