395 Pine Street E,Gananoque, ON K7G 1E2
Gananoque, ON K7G 1E2
Description
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.
Details
| MLS # | X13509382 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 53 |
| Listing Provided By | CENTURY 21 SYNERGY REALTY INC | X13509382 485600 |
Features
| Bed(s) | 14 |
|---|---|
| Bath(s) | 6 |
| Basement | Y |
| Story(s) | 3 |
| Acreage | 0.31 |
| Water Front | None |
Interior
| Interior Features | Water Heater Owned |
|---|---|
| Lease To Own Equipment | None |
| Cooling | None |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Concrete |
| Construction Materials | Concrete Block |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Available, Private |
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 5664 |
|---|---|
| Tax Legal Description | LT 1-2 PL 255; GANANOQUE |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| Region | Leeds and Grenville |
| City | Gananoque |
| Postal Code | K7G 1E2 |
| Area | 05 Gananoque |
| Listing VS Median (in K7G 1E2) | |
Price: $1,225,000 low | high Med: $0 On site: 53 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| Region | Leeds and Grenville |
| City | Gananoque |
| Postal Code | K7G 1E2 |
| Area | 05 Gananoque |
| Listing VS Median (in K7G 1E2) | |
Price: $1,225,000 low | high Med: $0 On site: 53 low | high Med: | |
