98 North ST, Lanark Highlands, ON K0G 1K0
98 North ST, Lanark Highlands, ON K0G 1K0
98 North ST, Lanark Highlands, ON K0G 1K0
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$499,000
Est. payment /mo
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6 Beds
4 Baths
New

98 North ST Lanark Highlands, ON K0G 1K0

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Giovanni Amati

Giovanni Amati

+1(416) 994-7637

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Fourplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2500-3000

Subdivision 919 - Lanark Highlands (Lanark Village)

MLS Listing ID X13773884

Style 2-Storey

Bedrooms 6

Annual Tax Amount $4,019

Tax Year 2026

Property Sub-Type Fourplex

Property Description

Excellent opportunity to own a solid income-producing 4-plex in Lanark, generating $56,400 in gross annual rental income. The property consists of four rental units. The 1st-floor 2-bedroom apartment rents for $1,350 per month, while the 2nd-floor 1-bedroom apartment rents for $1,200 per month. There are also two 2-bedroom apartments occupying the 1st and 2nd floors, renting for $650 and $1,500 per month respectively. That gives the property a total rental income of approximately $4700 per month, or $56,400 annually. The annual operating expenses are very reasonable. Property taxes are $4,019.07 per year, insurance is $3,520, hydro is $600, and propane is $1,400, total annual expenses to approximate $9,539.07. There are also several desirable features that make this property attractive from both an investment maintenance standpoint. The building has a steel roof, copper wiring with breaker panels, hardwood floors, a newer water pressure tank, and a full basement that provides plenty of storage space. The property uses a propane hot-water tank, and all tenants pay their own hydro and heating costs, helping to keep the owner's operating expenses down. Lanark is approximately 45 minutes from downtown Ottawa, 10 miles north of Perth, and about 20 minutes west of Carleton Place. The community offers the everyday amenities tenants need, including a grocery store, gas station, library, town hall, pizzeria, chip stands, and more. Lanark is also attracting increasing attention from Ottawa buyers looking for more affordable real estate and income-producing properties outside the city. For investors looking for cash flow, affordability, and long-term potential, this is a property worth taking a serious look at - before Lanark values move even higher.

Location

Province ON

County Lanark

Area Lanark

Rooms

Family Room No

Basement Unfinished, Other

Kitchen 4

Interior

Interior Features Separate Hydro Meter, Propane Tank

Cooling None

Fireplace No

Heat Source Electric

Exterior

Parking Features Private

Pool None

Roof Type Asphalt Shingle

Lot Frontage 105.0

Lot Depth 60.0

Total Parking Spaces 4

Building

Unit Features Public Transit,School,Library,Rec./Commun.Centre

Foundation Block

Others

Security Features Smoke Detector

ParcelsYN No

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Listed by RE/MAX HALLMARK REALTY GROUP

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Giovanni Amati

Giovanni Amati

Broker

+1(416) 994-7637

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98 North ST