More Photos

×

    For Sale - 98 North Street, Lanark Highlands, Ontario

    Est payment $2,396/mo
    Get pre-qualified
    Views   1
    Time on Jump  43 day

    AI Summary *

    • Income-producing 4-plex generating $56,400 in gross annual rental income.
    • Features four rental units with diverse pricing to attract various tenants.
    • Desirable property features include steel roof, hardwood floors, and ample storage.
    • Excellent location near amenities and 45 minutes from downtown Ottawa.
    • Low operating expenses with tenants covering their own hydro and heating costs.




    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.
    Listing IDX13773884
    Address98 North Street
    CityLanark Highlands, Ontario
    Price$499,000
    Bed / Bath6 / 4 Full
    Style2-Storey, Fourplex
    ConstructionAluminum Siding
    TypeMulti-Family
    StatusFor Sale

    Subtype FourplexIndoor Features Separate Hydro Meter, Propane TankAmenities Public Transit, School, Library, Rec./Commun.CentreOwnership FreeholdBasement Unfinished, OtherFoundation BlockHeating / Cooling BaseboardHeating Fuel ElectricSewer Septic

    Parking 4.00
    ASAP

    Mon

    26

    Oct

    Tue

    27

    Oct

    Wed

    28

    Oct

    Thu

    29

    Oct

    Fri

    30

    Oct

    Sat

    31

    Oct

    Sun

    1

    Nov

    Mon

    2

    Nov

    Tue

    3

    Nov

    Wed

    4

    Nov

    Thu

    5

    Nov

    Fri

    6

    Nov

    Sat

    7

    Nov

    Sun

    8

    Nov

    Mon

    9

    Nov

    Tue

    10

    Nov

    Wed

    11

    Nov

    Thu

    12

    Nov

    Fri

    13

    Nov

    Sat

    14

    Nov

    Sun

    15

    Nov

    Mon

    16

    Nov

    Tue

    17

    Nov

    Wed

    18

    Nov

    Thu

    19

    Nov

    Fri

    20

    Nov

    Sat

    21

    Nov

    Sun

    22

    Nov

    Mon

    23

    Nov

    By clicking “Get pre-qualified” and/or 'Submit' you are expressly consenting, in writing, to receive telemarketing and other messages, including artificial or prerecorded voices, via automated calls or texts from jumprealty.ca and up.mortgages at the number you provided above. This consent is not required to purchase any good or service. Message and data rates may apply, frequency varies. Text HELP for help or STOP to cancel. More details in Terms of Use and Privacy Policy.

    Listing Brokerage: RE/MAX HALLMARK REALTY GROUP

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

    Hospital
    Parks
    Schools
    Place of Worship
    Please select an amenity above to view a list.

    Recommended Properties

    555 Sugarbush Way
    Lanark Highlands, Ontario.
    3 Beds | 2 Baths
    $485,000
    2008 Pine Grove Road
    Lanark Highlands, Ontario.
    3 Beds | 2 Baths
    $549,000
    3187 Mcdonald'S Corner Road
    Lanark Highlands, Ontario.
    4 Beds | 1 Baths
    $549,900
    96 George Street
    Lanark Highlands, Ontario.
    3 Beds | 2 Baths
    $449,900
    3800 Wolf Grove Road
    Lanark Highlands, Ontario.
    4 Beds | 3 Baths
    $549,900
    85 South Street
    Lanark Highlands, Ontario.
    3 Beds | 3 Baths
    $570,000
    Loading...
    98 North Street
    Lanark Highlands , Ontario
    6 4 $499,000
    Get more info