Salehian.com 647-325-5000

98 North Street

919 - Lanark Highlands (Lanark Village), Lanark Highlands, K0G 1K0

$499,000

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  • 6 bedrooms
  • 4 bathrooms
  • 4 parking
  • 2500-3000 sq ft

Listed 39 days ago · MLS® X13773884

About this home

Excellent opportunity to own a solid income-producing 4-plex in Lanark, generating $56,400 in gross annual rental income. The property consists of four rental units. The 1st-floor 2-bedroom apartment rents for $1,350 per month, while the 2nd-floor 1-bedroom apartment rents for $1,200 per month. There are also two 2-bedroom apartments occupying the 1st and 2nd floors, renting for $650 and $1,500 per month respectively. That gives the property a total rental income of approximately $4700 per month, or $56,400 annually. The annual operating expenses are very reasonable. Property taxes are $4,019.07 per year, insurance is $3,520, hydro is $600, and propane is $1,400, total annual expenses to approximate $9,539.07. There are also several desirable features that make this property attractive from both an investment maintenance standpoint. The building has a steel roof, copper wiring with breaker panels, hardwood floors, a newer water pressure tank, and a full basement that provides plenty of storage space. The property uses a propane hot-water tank, and all tenants pay their own hydro and heating costs, helping to keep the owner's operating expenses down. Lanark is approximately 45 minutes from downtown Ottawa, 10 miles north of Perth, and about 20 minutes west of Carleton Place. The community offers the everyday amenities tenants need, including a grocery store, gas station, library, town hall, pizzeria, chip stands, and more. Lanark is also attracting increasing attention from Ottawa buyers looking for more affordable real estate and income-producing properties outside the city. For investors looking for cash flow, affordability, and long-term potential, this is a property worth taking a serious look at - before Lanark values move even higher.

Details

Type
Fourplex
Style
2-Storey
Size
2500-3000 sq ft
Lot
105 × 60 ft
Basement
Unfinished, Other
Garage
None
Kitchens
4
Property tax
$4,019 (2026)
Neighbourhood
919 - Lanark Highlands (Lanark Village)
Municipality
Lanark Highlands

Interior

Bedrooms
6 above ground
Bathrooms
1 × 4-piece (main), 1 × 4-piece (main), 1 × 4-piece (second), 1 × 4-piece (second)
Rooms
12 above ground
Family room or den
No
Fireplace
No
Features
Separate Hydro Meter, Propane Tank

Heating, cooling and services

Heating
Baseboard, Electric
Water and sewer
Septic

Building and exterior

Style
2-Storey
Exterior
Aluminum Siding
Roof
Asphalt Shingle
Foundation
Block
Faces
North

Parking

Total parking
4
Driveway and parking
Private

Lot

Size
105 × 60 ft

More

Possession
TBA
Nearby
Public Transit, School, Library, Rec./Commun.Centre
Cross street
North and George Street

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Car-dependent

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: no grocery stores, 1 cafés and restaurants, 1 park, 1 pharmacy. Nearest park: River Park (400 m).

Schools nearby

Elementary

  • Sacred Heart of Jesus Catholic School Catholic
    EQAO: Gr 6 reading 80%, math 70%    5 min walk
  • Maple Grove Public School
    EQAO: Gr 6 reading 33%, math 10%    8 min walk

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area K0G

Owners / renters
88% / 12%
Median household income
$94,000
Average age
46
Children under 15
15%
Homes
88% detached
Commute by transit
0%
Population
39,862

Languages spoken most at home besides English: Russian 0.1%, Punjabi (Panjabi) 0.1%, Spanish 0.1%, Arabic 0.1%.

Safety

Crime Severity Index for Lanark County (Lanark Highlands) (OPP): 34 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by RE/MAX HALLMARK REALTY GROUP.

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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