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19 Suites (7 One-bedrooms, 12 Two-bedrooms)
QUALITY Investment
The subject property offers a high quality new construction (2015) acquisition in an area that has been rapidly developing and growing. A very favourable and rarely available price per door for newer build is further bolstered by a tremendous amount of room to grow the rents and realize significant rental upside. Good suite mix in a rapidly growing market. Building shows A+!
ATTRACTIVE Asset
The building shows A+ with quality balconies, one elevator, common room. Desirable downtown location, turn-key opportunity with a good tenant profile and low operational costs. Rents are well below market value offering tremendous growth potential. Existing forgivable loan must be assumed with the property.
SOUND Rental Market
Picton’s diversified economy supports consistent housing demand, minimizing the likelihood of prolonged vacancies. Additionally, the town’s vibrant community, with its arts scene, local markets, and recreational opportunities, enhances its appeal, ensuring that multi-residential properties remain in demand. Its proximity to major cities like Toronto, Ottawa, and Kingston, all within a 2-3 hour drive, adds to its allure for commuters and those seeking a balance between rural charm and urban access.
Picton Suites
