10 Mackinley Crescent, 12, 14, 18 Mackinley Cornwall, Prince Edward Island C0A 1H8

$3,290,000

10 12 14-18 Mackinley Crescent properties are located in the heart of a thriving and growing town of Cornwall. The property consists of a total of 14 units, which are all currently rented out and producing steady rental income. The property contains three separate buildings; one duplex and 2 6 unit buildings. One of the 6 unit buildings was newly built in 2020. The units are all 3 bedrooms, 14 full bath, 14 ½ bath apartments, which are heavily sought after in today's rental market. The buildings themselves are well-maintained by a property owner that has been serving the rental community for decades. Many recently renovated aspects over the years including and not limited to electrical, plumbing systems and roofing. The units themselves have also been updated, some with modern appliances, fixtures, and finishes throughout. 10-18 Mackinley Crescent is situated in a prime location, with easy access to public transportation, major highways, and a wide variety of shops, restaurants, and entertainment options. The area is known for its strong job market, with a diverse range of industries and employers, including healthcare, education, and technology. This makes the property particularly attractive to young professionals and families who are looking for convenient and affordable housing options. In terms of financials, the property is currently producing steady rental income, with a growing gross annual rent. Low to zero vacancy rates, very strong demand for these rentals. Current tenants are all in good standing. The operating expenses for the property are also overall low. This is a possible CMHC MLI approved pre-existing property, meaning there is an option to get in on this investment at about 95% LTV or in other words; 5% down. Buyer(s) and property must still qualify, although it?s certainly a possibility. This property is a smart investment choice for any investor starting or continuing to add to their portfolio. (id:34223)

Property Details

Building

Land

https://www.realtor.ca/real-estate/25480170/10-mackinley-crescent-12-14-18-mackinley-cornwall-cornwall