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Maria Tompson
Sales Representative
Your Company Name, Brokerage
Independently owned and operated.
sales@bestforagents.com

 

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$1,149,000
Available - For Sale
Listing ID: X12172295
All 4 Units have been completely updated!Welcome to a truly one-of-a-kind investment opportunity steeped in character and rich local history. Originally built in 1871 as Spencervilles very first schoolhouse, this remarkable stone building has been thoughtfully transformed into a fully renovated four-unit income property, offering modern comfort while preserving its timeless charm.Set in the heart of picturesque Spencerville, Ontario, this 4-plex features three stylish 2-bedroom, 1-bathroom apartments and one spacious 3-bedroom, 1-bathroom unit, each boasting open-concept layouts, sleek vinyl flooring, and stainless steel appliances. With 2-foot thick solid stone walls and soaring ceilings, every apartment offers a unique blend of warmth, character, and durability.Currently tenanted by long-term residents in three of the four units, the fourth unit operates as a successful Airbnb, generating an average of $2,800-$3000/month since February 2025. The property provides a strong rental income stream with current rents of $1,950 for the 3-bedroom unit and $1,850 for each 2-bedroom apartmentwith rent increases scheduled for 2025. Net Operating Income (NOI): $90,300. Projected 2025 NOI: $92,000. Low annual expenses: Taxes ($4,000), Insurance ($2,650), Heating ($1,500)This is an ideal property for investors seeking stable cash flow, minimal maintenance, and future upside all wrapped in the charm of a landmark building. Whether you continue the successful Airbnb model or convert to long-term tenancy, the potential here is as solid as the stone walls themselves. There is a possibility of developing 2 more units at the rear of the building.
Price $1,149,000
Taxes: $4,000
Occupancy by: Tenant
Address: 20 South Stre , Edwardsburgh/Cardinal, K0E 1X0, Leeds and Grenvi
Directions/Cross Streets: Sloan
Rooms: 21
Bedrooms: 9
Bedrooms +: 0
Washrooms: 4
Family Room: F
Basement: Other
No. of Pieces Level
Washroom 1:  4
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Property Type: Fourplex
Style: 2-Storey
Exterior: Stone
Garage Type: Attached
Drive Parking Spaces: 6
Pool: None
Approximatly Square Footage: 5000 +
CAC Included: N
Water Included: N
Cabel TV Included: N
Common Elements Included: N
Heat Included: N
Parking Included: N
Condo Tax Included: N
Building Insurance Included: N
Fireplace/Stove: N
Heat Type: Radiant
Central Air Conditioning: None
Central Vac: N
Laundry Level: Syste
Ensuite Laundry: F
Sewers: Sewer
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RE/MAX AFFILIATES MARQUIS LTD.

20 South Stre , Edwardsburgh/Cardinal, K0E 1X0, Leeds and Grenvi

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Maria Tompson
Sales Representative
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416-548-7854
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416-548-7854
Fax:
416-981-7184

 
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At a Glance:
Type: Freehold - Fourplex
Area: Leeds and Grenville
Municipality: Edwardsburgh/Cardinal
Neighbourhood: 807 - Edwardsburgh/Cardinal Twp
Style: 2-Storey
Lot Size: x 324.73(Feet)
Approximate Age:
Tax: $4,000
Maintenance Fee: $0
Beds: 9
Baths: 4
Garage: 0
Fireplace: N
Air Conditioning:
Pool: None
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Maria Tompson Sales Representative Your Company Name, Brokerage Independently owned and operated. pic Cell: 416-548-7854 | Office: 416-548-7854 Personal Pic
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