18 OAK STREET, Kawartha Lakes, Ontario
$899,000
- 6 Beds
- 5 Baths
Rare Legal 5-Plex in the Heart of Fenelon Falls with 3 Vacant Units! Located on historic Oak Street overlooking the Locks, this grand 5-Unit building is a prime investment opportunity with Five 1-Bedroom Units and over $150K in recent upgrades. Three VACANT fully furnished units allow you to set your own rents, making it ideal for short or long-term tenants. Spanning over 3300sf, the property features separate hydro meters, six parking spaces, and a master key system with smart locks for seamless management. Recent renovations include new kitchens, baths, and modern finishes, with Units 1, 4, and 5 fully updated and furnished.With a current estimated annual income of $77,000 offering a 6.25% cap rate, and a potential income of $96,000, this property delivers strong cash flow and equity growth.Tenants pay their own electric heat and hydro, keeping utilities low. Upgrades include a new roof (2014), updated windows, 20-year plumbing, and new heat pumps installed in 2023 for Units 4 and 5, complementing the existing electric baseboard heating. Coin laundry is available in the basement for additional income.Situated steps from downtown Fenelon Falls, this property boasts stunning views of the Trent-Severn Locks and is close to all major amenities. Clean Phase 1 ESA (2021) available. Financials available upon request. (id:23309)
- Listing ID: X11952178
- Property Type: Multi-family
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Listing provided by Keller Williams Signature Realty, Brokerage
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This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 18 OAK STREET in Kawartha Lakes Ontario. It was last modified on February 3rd, 2025. Contact Heather Buchanan-Curren to schedule a viewing or to discover other Kawartha Lakes real estate for sale.