526 Mackay Street Pembroke, Ontario K8A 1E6

$489,900

Excellent investment opportunity in a convenient Pembroke location! This well-maintained triplex features three separate, self-contained units, each with its own hydro meter, electrical panel and hot water tank, providing investors with excellent utility separation and simplified expense management. The property generates approximately $60,228 in annual rental income, with estimated annual expenses of only $18,734.72, resulting in an impressive approximate net annual income of $41,493.28. Additional income is generated through on-site laundry, coin operated. Tenants pay their own hydro, while the landlord is responsible for natural gas and common-area costs, helping to maintain a favourable operating expense structure. Current rents include $1,837/month for the main floor 2-bedroom unit, $1,600/month for the upper 2-bedroom unit, and $1,532/month for the lower level 1-bedroom+den unit. The seller has completed numerous updates throughout the property, making this an attractive opportunity for investors seeking established rental income with strong cash-flow potential. Conveniently located close to schools, shopping, downtown amenities and Algonquin College's Pembroke Campus, this property offers a desirable location for tenants and solid fundamentals for an income-producing portfolio addition. Minimum 24-hour irrevocable on all offers. Minimum 48-hour notice required for all showings. (id:49269)

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https://www.realtor.ca/real-estate/30298240/526-mackay-street-pembroke-530-pembroke