Property Information:
This 2 unit property boasts a 7.7% cap rate and Cash on Cash ROI of 9.5%. Very solid revenue potential in a great downtown location. This meticulously maintained property has been updated from top to bottom, side to side, inside & out, in recent years. It is just like new. Rebuilt from the ground up with ICF foundation, siding, windows, doors, roof, insulation, wiring, plumbing, cabinets, paint, flooring and the list goes on. It will require next to nothing for many years to come. Centrally located, tenants will enjoy the short walk to amenities, schools, downtown & the gorgeous Summerside waterfront & boardwalk. Inside we find a very spacious and inviting layout on the main floor as we enter the chef's kitchen with an abundance of counter space & cupboards galore. The kitchen flows into a gorgeous and bright dining room, perfect for hosting large get togethers or an intimate dinner for two. The spacious living room and separate sitting area at the bottom of the stairs complete the main floor with charm and grace. Upstairs we find 3 good sized bedrooms and second full bath. The heat pumps on each level ensure year round comfort throughout! The private entrance to the basement suit is located through the backyard, and offers a separate parking space as well. This fully functional 1 bedroom unit is tasteful and will maximize revenue, being located in this thriving community. Complete with dishwasher, full bath and in-suite laundry, this space is completely self sufficient and ready for tenants. Rounding out this offering are the fenced backyard and detached 1.5 car garage. Savvy investors will know, this property is not to be overlooked. Ask your agent for a copy of the pro forma.
