Property Information:

Fully occupied (rented) Fourplex in Kirkland offering immediate, Strong Cash Flow and long term upside. This solid income producing property generates $3,800 per month in rental income with approximately $1,100 per month in operating expenses, delivering an impressive 11.25% CAP rate at just $288,000. A rare opportunity to acquire a high yielding asset at an affordable price point.The building is fully occupied with stable long term tenants paying $1,200, $1,100, $1,000, and $500 monthly. Significant value add potential exists through gradual rent optimization over time, allowing an investor to further increase returns. MPAC assessed at $334,000, offering built in equity from day one.Upper units are equipped with space heaters, the main floor features forced air heating. Metered water averages $170 per month, heat averages $250 per month, and hydro averages $250 per month, keeping overall expenses efficient and predictable.This is true turnkey investing with immediate income, strong cash on cash return, and clear growth potential. Whether you are expanding your portfolio or entering the market with a high performing asset, this fourplex checks every box for a smart, strategic investment. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Basement Type: Crawl space
Exterior Finish: Stucco, Vinyl siding
Floor Space: 2000 - 2500 sqft
Foundation Type: Wood
Heating Type: Forced air
Heating Fuel: Natural gas
Cooling Type: None
Appliances: Water meter, Dryer, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 5
Bathrooms: 4
Features: Carpet Free
Floor Space (approx): 2000 - 2500 Square Feet
Irregular: Yes
Lot Depth: 119.6 Feet
Lot Frontage: 24.8 Feet
Lot Size: 24.9 x 119.6 FT
Structure Type: Shed
Utility Type: Hydro - Installed, Cable - Available, Sewer - Installed
Zoning: R
Sewer: Sanitary sewer
Parking Type: No Garage

Courtesy of: RE/MAX HALLMARK ARI ZADEGAN GROUP REALTY

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Demographic Information of 71 SECOND STREET E, Kirkland Lake, Ontario, P2N 1R6

Life Stage

Growing Families

Employment Type

Mixed

Average Household Income

$106,107.75

Average Number of Children

1.65

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

27.84 %

High school certificate or equivalent

27.36 %

Apprenticeship trade certificate/diploma

6.79 %

College/non-university certificate

25.96 %

University certificate (below bachelor)

0.3 %

University Degree

11.75 %

Commuter

Travel To Work

By Car

84.12 %

By Public Transit

0.0 %

By Walking

9.65 %

By Bicycle

0.0 %

By Other Methods

6.23 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

44.64 %

Houses

55.36 %

71 SECOND STREET E, Kirkland Lake, Ontario, P2N 1R6