31-35 Fourth Street E

Introducing a remarkable opportunity: a Multi-Family Home for sale in Cornwall , located at 31-35 Fourth Street E, Cornwall. This immaculate multiplex is precisely what a discerning investor seeks, boasting a wealth of features and potential. Nestled in the vibrant community of 717 - Cornwall, this property is strategically positioned between Fourth Street and Sydney, offering convenient access to local amenities and services.

The building itself is a well-maintained two-storey structure, constructed with durable brick, ensuring both aesthetic appeal and longevity. This Multi-Family Home for sale in Cornwall comprises three distinct units, making it an ideal investment for those looking to maximise rental income. The total living space encompasses six bedrooms and four bathrooms, with a total of eight rooms designed to accommodate various living arrangements.

Unit 31, situated on the main floor, is particularly impressive, featuring three spacious bedrooms and 1.5 bathrooms. Currently, the tenant pays $1,336 per month, exclusive of electricity and gas, making it a lucrative rental opportunity. Moving to Unit 35, this charming two-bedroom unit commands a rental price of $1,332, also excluding gas and electricity. Finally, Unit 35A offers a cosy one-bedroom space, with a tenant paying $762.80 per month, inclusive of utilities. The gross revenue for this Multi-Family Home for sale in Cornwall amounts to an impressive $41,169.60 annually.

The property has undergone extensive renovations, ensuring it meets modern standards while retaining its original charm. Notably, the main floor was previously a doctor's office, which has been transformed into a residential space through the appropriate channels. The upgrades are numerous and significant, including the installation of new black windows in 2019 and an electrical upgrade completed in 2020. Furthermore, Unit 31 benefits from a new central air conditioning system and furnace, while Unit 35 has also received a new kitchen and furnace.

The property features a partial basement that has been thoughtfully renovated to provide locked storage units for each tenant, complete with new flooring, walls, and doors. This thoughtful addition enhances the functionality of the Multi-Family Home for sale in Cornwall, ensuring that all tenants have access to secure storage.

Additional amenities include central air conditioning, municipal water supply, and sewer services, which contribute to the overall appeal of the property. Although there is no swimming pool or fireplace, the availability of a driveway and parking space for up to five vehicles ensures that tenants have convenient access to their homes. The property is unfurnished, allowing new owners the flexibility to furnish the units to their taste.

The financial aspects of this investment are equally compelling. With property taxes amounting to £3,934.00, water costs at £2,480.00, and electricity expenses of £664.00, the overall financial picture remains favourable for potential investors. The owner currently covers the hot water costs for all tenants, which totals approximately £547.00 per year, further enhancing the attractiveness of this Multi-Family Home for sale in Cornwall.

In summary, 31-35 Fourth Street E, Cornwall, presents an exceptional investment opportunity in a thriving community. With its well-maintained structure, multiple rental units, and extensive renovations, this Multi-Family Home for sale in Cornwall is not to be missed. Come and see for yourself; you will not be disappointed. This property is a testament to the potential for growth and profitability in the Cornwall area, making it a wise choice for any savvy investor.

Community 717, located within the city of Cornwall, offers a charming blend of urban convenience and natural beauty. Nestled in a picturesque setting, this area is characterised by its welcoming atmosphere, with well-maintained parks and green spaces that invite outdoor activities. Residents enjoy easy access to local amenities, including shops, schools, and healthcare facilities, all within a short distance. The community's diverse population contributes to a vibrant cultural scene, with various events and gatherings that foster a sense of belonging. Whether you’re seeking a peaceful retreat or a lively neighbourhood, Community 717 provides an ideal environment for both relaxation and engagement.

Schools in the Neighbourhood

This property is ideally situated near several educational institutions, making it a great choice for families. Within a short distance, you'll find Central Public School, an elementary school offering grades JK to 6 under the Upper Canada District School Board, located just 0.4 km away with a school rating of 2.7. For secondary education, Cornwall Collegiate and Vocational School is even closer at 0.1 km, providing grades 7 to 12 and boasting a higher rating of 3.6. Additionally, Bishop Macdonell Catholic School, another elementary option, is also 0.4 km away and has a commendable rating of 3.5. For those seeking a Catholic secondary education, St. Matthew Catholic Secondary School is situated 0.3 km from the property, although it currently holds a rating of 0. Overall, the area offers a mix of public and Catholic schooling options, all within walking distance, catering to different educational preferences and ensuring that your children have access to quality education close to home.