Charming 10-unit investment property with significant growth potential. This beautifully restored building blends historic character with modern updates, featuring seven spacious 2-bedroom units and three bright 1-bedroom units. Nine of the units have been recently upgraded, making this a well-maintained, income-generating asset from day one. Located on 1.8 acres in the scenic Thousand Islands region, with easy access to Gananoque and Highway 401, the property also presents exceptional development potential. Studies are underway for an 8-unit and a 12-unit building, and the site plan approval process is approximately 80% complete ready for new ownership to carry it through. Included in the sale are all key planning documents: Servicing and Storm-water Management Report, Grading and Storm-water Plan, Updated Transportation Impact Analysis, Noise Study, Conceptual Plans, Survey, and Severance Applications. Two front lots are already zoned R2, which allows for higher-density options such as triplexes or stacked towns, giving future owners the choice to build out or sell the lots individually. A recent appraisal of approximately $2.4M provides immediate equity on the buy, along with stable rental income while development planning progresses. With one of Ontario's top urban planning firms, Fotenn, already engaged, and a township known for being welcoming and supportive of redevelopment, this property is positioned for both immediate returns and long-term value. A rare and versatile opportunity for investors and developers alike. (id:19004)
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