BEING SOLD AS A POWER OF SALE: Projected cap rate ABOVE 6%. Rare opportunity to own a tenanted, seven-unit multiplex in Prince Edward County. Located at 47 King Street, this 5,000+ sq ft property features three 2-bedroom units and four 1-bedroom units, all with hardwood floors and updated interiors. Bonus income potential with a rentable detached garage and five private surface parking spaces. The building is secure, with dual front and rear access to all units. Tenants are stable and rents are at fair market rates. Set on a charming lot with mature gardens and wrought iron details, this property is just a short walk to downtown Picton's shops, restaurants, trails, and amenities. Projected financials are available upon request. A solid addition to any investment portfolio in a fast-growing area.
Address
47 King Street
List Price
$1,025,000
MLS® Status
Sold Conditional
Expiration Date
2026-05-06
Property Type
Residential Freehold
Type of Dwelling
Multiplex
Style of Home
3-Storey
Transaction Type
Sale
Area
Prince Edward County
Sub-Area
Picton Ward
Bedrooms
9
Bedrooms (Total)
9
Rooms Above Grade
37
Bathrooms
7
Floor Area
3500-5000 Sq. Ft.
Lot Size Source
GeoWarehouse
Lot Depth
164.35
Lot Shape
Rectangular
Lot Size Units
Feet
Lot Width
61.89
Parcel Number
550620040
Occupant Type
Tenant
Cross Street
King St between Bowery and Elizabeth
Approx. Age
100+ Years
MLS® Number
X12767110
Listing Brokerage
CENTURY 21 LANTHORN REAL ESTATE LTD.
Basement Area
Unfinished
Postal Code
K0K 2T0
Posession Details
Flexible
Parking
Private
Parking Places (Total)
6
Parking Spaces
5
Tax Amount
$6,204.45
Tax Year
2025
Site Influences
Beach, Golf, Hospital, Library, Rec./Commun.Centre, School, Year Round Living
Exterior Features
Year Round Living
Interior Features
Carpet Free, Water Heater Owned
Property Features
Beach, Golf, Hospital, Library, Rec./Commun.Centre, School
Cable
Yes
Central Vacuum
No
Family Room
No
Hydro
Yes
Ensuite Laundry
No
Special Designation
Unknown
Standard Status
Pending
Board Or Association
Central Lakes Association of REALTORS
Heat Source
Gas
Heat Type
Forced Air
Cooling Features
None
Construction Materials
Vinyl Siding
Direction Faces
North
Fireplace
Yes
Foundation Details
Concrete Block, Stone
Garage
Yes
Garage Type
Detached
Covered Spaces
1
Kitchens Total
7
Kitchens Above Grade
7
Pool Features
None
Roof
Asphalt Shingle
Tax Legal Description
LT 372 PL 24 PICTON; PRINCE EDWARD
Waterfront
No
Sewer
Sewer
