48 Dundas St E

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Listing Description

Unlock a remarkable investment opportunity with this exceptional property at 48 Dundas Street East, beautifully positioned in the vibrant heart of downtown Napanee. This prime location features two stunning apartments, a high-visibility commercial unit, and exciting potential for future expansion. The city is willing to approve a third residential unit over the current front unit, offering even greater income possibilities. Step into the first apartment, a bright and inviting studio thoughtfully designed with a modern kitchen, a spacious 3-piece bathroom, and expansive windows that flood the space with natural light. A heat pump ensures year-round comfort. The second apartment is a charming one-bedroom unit with a generous living room, a welcoming open kitchen and dining area, and a private balcony for outdoor relaxation. Both apartments share convenient laundry facilities in the common hallway. On the main floor, you'll discover a generous commercial unit spanning over 1,300 square feet. This impressive space features elegant plank and hardwood flooring, two bathrooms, and its own laundry facility. Additionally, the full unfinished basement provides ample storage solutions. The store benefits from a new furnace installed last year and a long-life rubber membrane roof, installed in 2020. Currently, all three units are fully leased, generating a reliable annual income of $47,583.00, with the commercial lease set to increase yearly. Moreover, the Gibbards District will bring significant population growth, driving a large customer base just down the street. Nestled in the revitalized downtown core, the front residential unit is brand new, adding to the appeal. Don't let this spectacular investment slip away!
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