Excellent investment opportunity, This mostly renovated well-maintained 6 + 1-unit apartment building offers a desirable mix of two bachelor apartments, two one-bedroom apartments and three two-bedroom apartments, providing a diversified rental mix within one property. Five of the 6 + 1 units have been renovated, adding to the overall appeal of this established income-producing property. All units are separately metered for both water and hydro, an attractive feature for multi-residential ownership and long-term operating efficiency. The building currently generates approximately $104,263 in gross annual rental income, providing strong existing cash flow with scheduled future rent increases offering additional income potential. Adding to the property's appeal is the potential for future development of an additional multi-unit residential building on the property, creating an opportunity to further increase the number of rental units and overall income potential. Buyer to complete their own due diligence regarding zoning, servicing, development potential, building permits and all required municipal and regulatory approvals. Hastings is situated along the Trent-Severn Waterway, at the meeting of the Trent River and Rice Lake, making the area popular for boating, fishing and outdoor recreation. The community offers local shops, restaurants, parks, trails and essential services, while nearby Campbellford provides additional shopping, healthcare, dining and recreational amenities. With its waterfront setting, relaxed lifestyle and convenient access to surrounding communities, Hastings continues to be an appealing place to live for a wide range of residents. A compelling opportunity combining 6 +1 existing rental units, immediate income, separately metered utilities and future development potential-an excellent addition to a multi-residential investment portfolio.
Address
24 Water Street
List Price
$1,349,999
MLS® Status
New
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Trent Hills
Sub-Area
Hastings
Region
Northumberland
Lot Depth
161
Lot Type
Lot
Lot Size Units
Feet
Lot Width
100
Parcel Number
512130071
Total Building Area
3923
Occupant Type
Tenant
Cross Street
HWY 45 & WATER ST
MLS® Number
X14105346
Listing Brokerage
Royal Heritage Realty Ltd.
Postal Code
K0L 1Y0
Parking Spaces
10
Tax Amount
$5,486.00
Tax Year
2026
Standard Status
Active
Board Or Association
Central Lakes Association of REALTORS
Heat Type
Electric Forced Air
Cooling Features
Yes
Garage Type
None
Waterfront
No
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