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32 David St 4 Unit Apartment Building $1,074,488 USD ($268,622 USD/Unit) 6.02% Cap Rate Spencerville, ON K0E 1X0
EXECUTIVE SUMMARY
Attention investors!! Rarely offered purpose-built Fourplex in Spencerville featuring four individually titled 2-bed, 1.5-bath attached bungalows, each with private garage (inside entry), backyard patio, and full unfinished basements with legal egress windows ideal for adding a third bedroom. All units include stainless steel appliances, stackable in-unit laundry, efficient HVAC systems, and water treatment setups. Open-concept layouts with granite counters and quality finishes throughout. Fully tenanted with strong rental income of $107,952/year and a Net Operating Income of $90,240. Turnkey investment or ideal multi-generational living setup with future resale flexibility. Quiet residential setting just minutes to Highway 416.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (USD) | ANNUAL PER SF (USD) |
|---|---|---|
| Gross Rental Income |
$75,297
|
$10.76
|
| Other Income |
$2,037
|
$0.29
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$77,334
|
$11.05
|
| Taxes |
$7,585
|
$1.08
|
| Operating Expenses |
$5,103
|
$0.73
|
| Total Expenses |
$12,688
|
$1.81
|
| Net Operating Income |
$64,646
|
$9.24
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $75,297 |
| Annual Per SF | $10.76 |
| Other Income (USD) | |
|---|---|
| Annual | $2,037 |
| Annual Per SF | $0.29 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $77,334 |
| Annual Per SF | $11.05 |
| Taxes (USD) | |
|---|---|
| Annual | $7,585 |
| Annual Per SF | $1.08 |
| Operating Expenses (USD) | |
|---|---|
| Annual | $5,103 |
| Annual Per SF | $0.73 |
| Total Expenses (USD) | |
|---|---|
| Annual | $12,688 |
| Annual Per SF | $1.81 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $64,646 |
| Annual Per SF | $9.24 |
PROPERTY FACTS
| Price | $1,074,488 USD | Building Class | B |
| Price Per Unit | $268,622 USD | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 7,000 SF |
| Cap Rate | 6.02% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Apartment Style | Townhome | ||
| Zoning | R3-6 | ||
| Price | $1,074,488 USD |
| Price Per Unit | $268,622 USD |
| Sale Type | Investment |
| Cap Rate | 6.02% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.26 AC |
| Building Size | 7,000 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 2021 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R3-6 |
AMENITIES
SITE AMENITIES
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 4 | - | - |
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32 David St
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