37-43 Leonard Avenue

About this home

Excellent investment opportunity! Rarely offered purpose-built four-plex, each unit offering 3 bedrooms, 1 bath, in suite laundry hookups, and its own dedicated outdoor storage shed. Situated on a large corner lot, the building is designed for low-maintenance ownership with no interior common areas to maintain. Each unit also features it's own paved driveway with parking for up to 3 vehicles. Current gross annual rents are $58,860, and the property is already cash-flow positive, with substantial upside as units turn over. Tenants pay all utilities, except one unit where water is included. Unit 39 has been renovated and is leased for $2,000/month plus utilities, demonstrating the true rental potential available for the building. With minimal upgrades to the remaining units as they turn over, the property's total rent potential could reach approximately $96,000 annually. As especially rare offering- this property delivers substantial cash flow. Ideal for investors or owner-occupiers alike, where income from the three rented units can significantly offset housing costs, creating the possibility of living here with minimal to no monthly out-of-pocket expense. A truly exceptional chance to secure a stable, cash-flowing multi-family asset with long-term growth potential.

Details

Type

Investment

Age

51-99 years

Lot

105.83 × 102.63 ft

Garage

None

Property tax

$4,599 (2025)

Neighbourhood

Trenton Ward

Municipality

Quinte West

Heating, cooling and services

Heating

Gas Hot Water

Water and sewer

Sanitary

Utilities

Available

Building and exterior

Age

51-99 years

Building area

3,678 Square Feet

More

Possession

Flexible

Cross street

Creelman and Leonard Avenue.

Business type

Apts - 2 To 5 Units