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About the Listing 485600 -
This well-maintained 6-plex presents an outstanding investment opportunity in the heart of Gananoque. Built in 1956 and situated on a large R2-zoned lot, the property offers excellent long-term value with a private parking lot at the rear for tenant convenience. Currently, five of the six units are occupied, providing immediate and stable rental income, while the sixth unit is vacant and available for July 1 occupancy, offering potential for increased cash flow through market rent. Ideally located close to schools, grocery stores, and other local amenities, the property remains highly attractive to tenants seeking convenience and accessibility. The building has demonstrated exceptional rental stability, maintaining an average vacancy rate of just 3.5% over the past five years, reflecting strong tenant demand in the area. Generating a strong Net Operating Income of more than $85,000, this property is a turnkey addition to any investment portfolio. Major capital improvements have already been completed, including new windows in 2016, a roof replacement in 2021, and a new furnace in 2024, helping to minimize future maintenance costs. With strong financial performance, proven occupancy, quality upgrades, ample parking, and a desirable location, this is a rare opportunity to acquire a solid multifamily asset in one of Eastern Ontario's most sought-after communities.
Listing Highlights
Status
Active
Days on Site
14
Property Type
Multi-Family
MLS ®
X13509382
Year Built
Total Square Footage
3,500
Lot/Acreage
0.31
Interior Details
- Bedrooms: 14
- Bathrooms: 6 Full
- Appliances:
- Air Cond:
- Heating: Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Apartment
- Other: Water Heater Owned,8 Kitchens
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Asphalt Shingle
- Others:
- Sewer: Sewer
- Parking Features: Available,Private,No Garage
Financial Details
- Tax Amount: $5,664
- Taxes w/Assessments: N/A
- Tax/Property ID: 442440030
- Tax Year: 2025
Payment Calculator
Monthly Payment
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Questions About..
395 Pine St E Gananoque, ON K7G 1E2
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