395 PINE STREET E, Gananoque
This well-maintained 6-plex presents an outstanding investment opportunity in the heart of Gananoque. Built in 1956 and situated on a large R2-zoned lot, the property offers excellent long-term value with a private parking lot at the rear for tenant convenience. Currently, five of the six units are occupied, providing immediate and stable rental income, while the sixth unit is vacant and available for July 1 occupancy, offering potential for increased cash flow through market rent. Ideally located close to schools, grocery stores, and other local amenities, the property remains highly attractive to tenants seeking convenience and accessibility. The building has demonstrated exceptional rental stability, maintaining an average vacancy rate of just 3.5% over the past five years, reflecting strong tenant demand in the area. Generating a strong Net Operating Income of more than $85,000, this property is a turnkey addition to any investment portfolio. Major capital improvements have already been completed, including new windows in 2016, a roof replacement in 2021, and a new furnace in 2024, helping to minimize future maintenance costs. With strong financial performance, proven occupancy, quality upgrades, ample parking, and a desirable location, this is a rare opportunity to acquire a solid multifamily asset in one of Eastern Ontario's most sought-after communities. (id:25961)
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Details
- Parking Spaces: 6
- Transaction: For sale
- Zoning Description: Residential - R2
Building
- Appliances: Water Heater, Dryer, Oven, Stove, Washer, Refrigerator
- BasementType: N/A
- Basement Features: Apartment in basement
- Bedrooms Main Level: 11
- Bedrooms Lower Level: 3
- Cooling: None
- Exterior Finish: Concrete Block
- Fireplace Present: False
- Foundation: Concrete
- Bathrooms (Total): 6
- Heating: Radiant heat
- Heating Fuel: Natural gas
- Size Interior: 3500 - 5000 sqft
- Stories Total: 3
- Type: Other
- Utility Water: Municipal water
Land
- Sewer: Sanitary sewer
- Size Depth: 133 ft ,2 in
- Size Frontage: 101 ft ,3 in
- Size Irregular: 101.3 x 133.2 FT
This property for sale is located at 395 PINE STREET E in Gananoque. It was last modified on July 2nd 2026. Let us connect you with one of our real estate agents to schedule a viewing or to discover other Gananoque homes for sale.
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