Excellent investment opportunity! Rarely offered purpose-built four-plex, each unit offering 3 bedrooms, 1 bath, in suite laundry hookups, and its own dedicated outdoor storage shed. Situated on a large corner lot, the building is designed for low-maintenance ownership with no interior common areas to maintain. Each unit also features its own paved driveway with parking for up to 3 vehicles. Current gross annual rents are $58,860, and the property is already cash-flow positive, with substantial upside as units turn over. Tenants pay all utilities, except one unit where water is included. Unit 39 has been renovated and is leased for $2,000/month plus utilities, demonstrating the true rental potential available for the building. With minimal upgrades to the remaining units as they turn over, the property's total rent potential could reach approximately $96,000 annually. As especially rare offering- this property delivers substantial cash flow. Ideal for investors or owner-occupiers alike, where income from the three rented units can significantly offset housing costs, creating the possibility of living here with minimal to no monthly out-of-pocket expense. A truly exceptional chance to secure a stable, cash-flowing multi-family asset with long-term growth potential.
Address
37-43 Leonard Avenue
List Price
$725,000
MLS® Status
New
Expiration Date
2026-05-31
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Quinte West
Sub-Area
Trenton Ward
Region
Hastings
Lot Size Source
GeoWarehouse
Lot Depth
102.63
Lot Shape
Rectangular
Lot Type
Building
Lot Size Units
Feet
Lot Width
105.83
Parcel Number
404130070
Total Building Area
3678
Occupant Type
Tenant
Cross Street
Creelman and Leonard Avenue.
Approx. Age
51 - 99 Years
MLS® Number
X12571202
Listing Brokerage
RE/MAX JAZZ INC.
Basement
Yes
Postal Code
K8V 2R3
Posession Details
Flexible
Parking Spaces
12
Tax Amount
$4,599.00
Tax Year
2025
Site Influences
Major Highway, Recreation/Community Centre
Community Features
Major Highway, Recreation/Community Centre
Standard Status
Active
Board Or Association
Central Lakes Association of REALTORS
Heat Type
Gas Hot Water
Cooling Features
No
Garage Type
None
Tax Legal Description
LT 181-182 PL 451 MURRAY; QUINTE WEST; COUNTY PF HASTINGS.
Security Features
No
Sewer
Sanitary
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