207 ALICE STREET, Cornwall
Excellent Fourplex Investment Opportunity - 10%+ Cap Rate! Located just 500m from St. Lawrence College, this well-located fourplex offers an excellent opportunity for investors looking to add a multi-residential property to their portfolio. The property is also approximately 900m from a grocery store and other amenities, with the nearest bus stop just 200m away. Each of the four units features 2 bedrooms and 1 bathroom, providing a practical and desirable layout for tenants. Each tenant has the right to one parking space located in front of the building. Current monthly rents: 207: $1,350/month - tenant pays own electricity, 207A: $1,750/month - landlord pays utilities, 207B: $1,250/month, 207C: $1,250.73/month. The property currently generates approximately $67,208.78 in total annual rental income, with estimated annual operating expenses of approximately $14,686.55, resulting in an estimated net operating income of $52,522.23. Based on the current income and expenses, the property offers a cap rate of over 10%, making this an attractive income-producing opportunity for investors. The property currently has a gas furnace serving both upper-level units, while the two main-level units have been converted to electric baseboard heating, allowing the tenants in those units to be responsible for their own electricity consumption. With four 2-bedroom units, dedicated parking, convenient access to public transportation, nearby amenities, and its close proximity to St. Lawrence College, this property presents an opportunity for both experienced and first-time investors. As per form 244 offers to contain a 48-hour irrevocability. All showings require minimum 48 hours notice. (id:25961)
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Details
- Features: Carpet Free
- Parking Spaces: 4
- Transaction: For sale
Building
- Amenities: Fireplace(s)
- Appliances: Water meter
- BasementType: N/A (Unfinished)
- Basement Development: Unfinished
- Bedrooms Main Level: 8
- Cooling: None
- Exterior Finish: Brick
- Fireplace Present: False
- Foundation: Concrete
- Bathrooms (Total): 4
- Heating: Baseboard heaters, Forced air
- Heating Fuel: Other
- Size Interior: 2500 - 3000 sqft
- Stories Total: 2
- Type: Fourplex
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Depth: 67 ft
- Size Frontage: 50 ft
- Size Irregular: 50 x 67 FT
This property for sale is located at 207 ALICE STREET in Cornwall. It was last modified on September 18th 2026. Let us connect you with one of our real estate agents to schedule a viewing or to discover other Cornwall homes for sale.
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