For Sale · Multifamily

37 LORNE AVENUE, Quinte West (Trenton Ward)

37 LORNE AVENUE, Quinte West (Trenton Ward), ON K8V5B4

$599,900 total

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

88%

About this property

Client RemarksLegal Triplex...Updated and walking distance to downtown Trenton - Lots of parking and ready for your tenant selection. (the smallest unit is currently tenanted) This Triplex has had extensive renovations since 2018. Three levels, three kitchen upgrades with fridge & stove. Each unit also has its own private wooden deck & parking space. The main floor 1-bedroom unit is very spacious at 1000 sqft (approx) and offers direct access to the shared laundry room & dog washing area. The 2nd floor is a 3-bedroom unit with 1100 sqft (approx) and spacious updated kitchen. The 3rd floor 1-bedroom unit with 575 sq ft (approx) was completely rebuilt with a modern kitchen in 2020, also with a private deck. Separate hydro meters and water meters. currently services 1st & 2nd floor units. The 1-bedroom loft is heated with electric baseboard. The basement is clean and has plenty of storage space and hook up for an extra washer/dryer with its own meter for both water and hydro (if you chose to have a second laundry option). UPDATES: Gas furnace-2018, Re-shingled-2016, Doors & Vinyl Windows-2020, A/C-2026, Decking & Outdoor Stairs-2020, 3rd Floor Apartment-2020, Re-painted-2020, Refreshed Front Porch-2026, Retro-fitted 200amp meterbase to 400amp base to supply each unit 100amp service-2020, Hardwired Fire Safety Alarms-2020. Currently only unit 3 is rented...ready for market priced tenants. Potential income on this building is excellent. *Be sure to check out our virtual walkthrough on Realtor.ca or on our website!* (id:66811)

Financial sandbox

Adjust the deal assumptions — returns recalculate instantly.

Estimate
Purchase price$600K
Down payment30% · $180K
Interest rate6.25%
Amortization25 years
Occupancy88%
Expense growth2.5%

Monthly debt service

$3K

Projected NOI

$23K

Annual cash flow

$-10K

Cash-on-cash

-5.82%

DSCR

0.68

Going-in cap

3.79%

Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.

Area demographics

Trade area within 3 miles of the property.

Population

127,112

Households

48,907

Median income

$134,500

Median age

39.2

Daytime population

122,922

5-yr growth

0.9%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for 37 LORNE AVENUE, Quinte West (Trenton Ward).

NDA required
  • Offering Memorandum

    PDF · 4.2 MB

  • Rent Roll & T-12

    XLSX · 820 KB

  • Environmental Phase I

    PDF · 6.7 MB

  • Site Survey & Plans

    PDF · 11.4 MB

  • Zoning Confirmation Letter

    PDF · 310 KB

Preview experience — the electronic NDA is illustrative and is not a binding agreement.