48 DUNDAS STREET E, Greater Napanee (Greater Napanee), Ontario, K7R1H8

Property Description

Prime Mixed Use Investment - 48 Dundas Street East, Downtown Napanee A strong mixed use income property in the heart of Napanee's revitalized downtown, featuring 2 residential units, 1 commercial unit, and 2 storage units. All spaces are fully leased, generating a current gross income of $55,647/year, with upside to $61,047/year once the 900 sq. ft. storage unit is leased. The commercial tenant is secured until August 2027, providing stable long term cash flow. The main floor commercial space offers 1,300 sq. ft., quality finishes, two bathrooms, dedicated laundry, a new furnace, and a rubber membrane roof installed in 2020. Upstairs are two well designed apartments: a bright modern studio with a heat pump, and a spacious one bedroom with open concept living and a private balcony. Shared laundry is located in the common hallway. Additional income includes one storage unit at $100/month and a second with potential for $450/month. With an NOI of $42,193 (or $47,593 with storage leased), this property delivers strong returns in a growing market. Located steps from the rapidly expanding Gibbards District, the property benefits from increasing population density and customer traffic. Financials are available upon request - a rare opportunity to secure a stable, diversified asset in a thriving downtown corridor. (id:64974)

Quick Facts

• Property Type: Residential Commercial Mix
• Bedrooms: 2 (2 above)
• Bathrooms: 4 (2 half)
• Parking: 2 spaces (No Garage)
• Lot Size: 0.0630 acres (0.03 ha)
• Frontage: 20 ft (6.1 m)

Costs

• Annual Taxes: $3,954.00

Listing Provided by: ROYAL LEPAGE PROALLIANCE REALTY, BROKERAGE
Board: Kingston & Area Real Estate Association
Data provided via CREA DDF®.