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. An 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 expenses. 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
Residential Freehold
Type of Dwelling
Fourplex
Style of Home
1 Storey/Apt
Transaction Type
Sale
Area
Quinte West
Sub-Area
Trenton Ward
Region
Hastings
Bedrooms
6 + 6
Bedrooms (Total)
12
Rooms Above Grade
14
Rooms Below Grade
14
Bathrooms
4
Floor Area
1500-2000 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
102.63
Lot Shape
Rectangular
Lot Size Range (Acres)
< .50
Lot Size Units
Feet
Lot Width
105.83
Parcel Number
404130070
Occupant Type
Tenant
Cross Street
Creelman and Leonard Avenue.
Approx. Age
51 - 99 Years
MLS® Number
X12571210
Listing Brokerage
RE/MAX JAZZ INC.
Basement Area
Apartment, Walk-Out
Postal Code
K8V 2R3
Posession Details
Flexible
Parking
Private Triple
Parking Places (Total)
12
Parking Spaces
12
Tax Amount
$4,599.00
Tax Year
2025
Site Influences
Level, Patio, Place Of Worship, Public Transit, Rec./Commun.Centre, School
Exterior Features
Patio
Interior Features
Primary Bedroom - Main Floor, Separate Hydro Meter, Water Heater
Property Features
Level, Place Of Worship, Public Transit, School, Rec./Commun.Centre
Central Vacuum
No
Family Room
No
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Active
Board Or Association
Central Lakes Association of REALTORS
Heat Source
Gas
Heat Type
Radiant
Cooling Features
None
Construction Materials
Brick
Direction Faces
East
Fireplace
No
Foundation Details
Block
Garage
No
Garage Type
None
Kitchens Total
4
Kitchens Above Grade
2
Kitchens Below Grade
2
Other Structures
Garden Shed
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
LT 181-182 PL 451 MURRAY; QUINTE WEST; COUNTY PF HASTINGS.
Topography
Flat
Waterfront
No
Waterfront
None
Sewer
Sewer
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