166 WEST STREET
Quinte West, Ontario, Ontario, K8V2M7

Property description

Do you know what's better than a duplex? A triplex! This affordable triplex in the heart of town is a fantastic investment opportunity, offering stable rental income with long-term, established tenants. With three units, ranging from a bachelor apartment to a three-bedroom unit, this fully rented property generates a gross rental income of $25,380 per year. Situated on a spacious corner lot, the property features multiple driveways, a detached double garage with a separate driveway, and multiple entrances for tenant convenience. The exterior is a combination of stucco and vinyl siding, and there is a deck on the north side serving two unit entrances. Unit 1 is a three-bedroom, one-bath unit on the second level, rented for $630/month plus hydro, gas, and water/sewer. The tenant, in place for approximately five years, enjoys gas heat, two parking spaces, laundry facilities (tenant-owned appliances), and exclusive use of the detached garage. Unit 2 is a two-bedroom, one-bath unit on the main level, rented for $850/month plus gas. With two separate entrances and laundry facilities in the foyer, this unit has housed the same tenant for 8 to 9 years. The unit includes gas heat and two parking spaces. Unit 3 is a bachelor apartment in the lower level, rented for $635/month all-inclusive. Featuring an open-concept kitchen, living area, and sleeping space, it is heated with electric baseboard heat. The landlord provides appliances, and the unit has a separate driveway with two parking spots. The tenant has been there for approximately six years. With separate metering for hydro and water (one unit fully independent, two units metered together) and individual hot water tanks for each unit, this self-sustaining property is a smart addition to any investment portfolio, with tenants maintaining lawn care and snow removal. Detailed income and expenses available.

Building information

Land information