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235 James ST W Prescott, ON K0E 1T0
11,220 SqFt
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Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 11,220 sqft
Price per Sqft $98
Subdivision 808 - Prescott
MLS Listing ID X13639696
Annual Tax Amount $3,984
Tax Year 2025
Property Sub-Type Investment
Property Description
Turnkey legal 5-unit apartment building offering strong cash flow and extensive redevelopment in the heart of Prescott. Originally a duplex, this property has been comprehensively transformed into a modern income-producing asset while preserving its attractive brick exterior and character. Generating $93,300 in gross annual income with an approximate NOI of $78,820, the building offers an excellent unit mix of one 3-bedroom suite, two 2-bedroom suites (including an accessible unit), and two 1-bedroom suites, one of which is rented as an affordable unit. Extensive capital improvements include all new kitchens, bathrooms, flooring, lighting, interior doors, plumbing, electrical, nearly all new windows, repointed brick, new decks, upgraded insulation, modern mechanical systems, quality finishes throughout, and a durable standing seam metal roof. The building features an efficient utility structure with all tenants paying their own hydro and water. Two suites have their own dedicated heating systems and pay their own heat, while three suites are heated by an efficient central gas-fired hot water boiler. The accessible and affordable units may be of interest to purchasers exploring CMHC financing programs, subject to lender and CMHC eligibility requirements. Conveniently located within walking distance to downtown Prescott, the St. Lawrence River, shopping, restaurants, schools, and just minutes from Highway 401, this is an exceptional opportunity to acquire a true turnkey multi-family investment with significant capital improvements already completed.
Location
Province ON
County Leeds And Grenville
Area Leeds And Grenville
Zoning R2
Interior
Cooling Yes
Inclusions 5 Fridges, 5 Stoves, 5 Dishwashers, 2 Stack-able Washer/Dryers, 1 Washer, 1 Dryer, 6 HWT's, 1 On Demand HWT, 1 Electric Furnace, 1 Gas Furnace
Exterior
Parking Features Outside/Surface
Utilities Available Yes
Building
Lot Description Building
Lited by EXP REALTY