37-43 Leonard Avenue, Quinte West, ON K8V 2R3

$690,000
: 12
BD
: 4
BA
: 1,500
SqFt

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List Price: $690,000
MLS#: X13620482
Status: ACTIVE
Type: Multifamily
SubType: Fourplex
Style: 1 Storey/Apt
Bedrooms: 12
Bathrooms: 4
Living Area: 1500-2000
Province: ON
Municipality: Quinte West
Area: Hastings
Neighborhood: Trenton Ward
Subdivision: Creelman And Leonard Avenue.

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Property Description

Excellent investment opportunity! Rarely offered purpose-built four-plex, each unit offering 3 bedrooms, 1 bath, in-suite laundry hookups, and its own dedicated outdoor storage shed. Situated on a large corner lot, the building is designed for low-maintenance ownership with no interior common areas to maintain. Each unit also features its own paved driveway with parking for up to 3 vehicles. Current gross annual rents are $58,860, and the property is already cash-flow positive, with substantial upside as units turn over. Tenants pay all utilities, except one unit where water is included. Unit 39 has been renovated and is leased for $2,000/month plus utilities, demonstrating the true rental potential available for the building. With minimal upgrades to the remaining units as they turn over, the property's total rent potential could reach approximately $96,000 annually. An especially rare offering- this property delivers substantial cash flow. Ideal for investors or owner-occupiers alike, where income from the three rented units can significantly offset housing costs, creating the possibility of living here with minimal to no monthly out-of-pocket expenses. A truly exceptional chance to secure a stable, cash-flowing multi-family asset with long-term growth potential.

(416) 919-7107

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