55/63 Russell Street,Summerside, PE C1N2T4
Summerside, PE C1N2T4
Description
Located at 55?63 Russell Street in Summerside, Prince Edward Island, this offering presents an opportunity to acquire a modern 16-unit multi-residential investment property comprising two purpose-built 8-unit apartment buildings. Built in 2020 by AFFLECK Construction, the property offers investors the benefits of newer construction, functional unit layouts, and potentially reduced near-term capital expenditure requirements compared with older multi-family inventory. All 16 residential units feature a two-bedroom, one-bathroom layout, with each unit including in-suite laundry with its own washer and dryer, along with a fully equipped kitchen featuring a stove, refrigerator, dishwasher, and microwave. The property is currently fully occupied, providing an established rental income stream and a stable operating profile. Its combination of modern construction, consistent unit configuration, and full occupancy makes it well suited to investors seeking a quality income-producing asset with long-term holding potential. The property is conveniently located in Summerside with access to shopping, schools, employment, healthcare, public services, and other everyday amenities, supporting continued tenant demand and long-term rental appeal. This offering is suitable for experienced multi-residential investors, portfolio owners seeking to expand their holdings, and qualified purchasers looking to acquire a substantial rental asset in Prince Edward Island. A detailed rent roll, operating statements, and supporting financial information are available to qualified purchasers upon request. To respect tenant privacy and minimize disruption, showings will be arranged for serious and financially qualified purchasers only, with a minimum of 48 hours? notice. 55?63 Russell Street offers a compelling opportunity to acquire a fully occupied, relatively modern 16-unit multi-residential asset in one of Prince Edward Island?s key regional markets. (id:374)
Details
| MLS # | 202622661 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 51 |
| Listing Provided By | ROYAL LEPAGE PRINCE EDWARD REALTY | Yan Ming (Edward) Zhang |
Features
| Zoning | Multi-Family |
|---|---|
| Acreage | 0.78 |
Interior
| Cooling | Air exchanger |
|---|---|
| Heating | Space Heater, Electric, Wall Mounted Heat Pump |
| Appliances | Refrigerator, Intercom, Dishwasher, Stove, Microwave Range Hood Combo, Washer/Dryer Combo |
| Fireplace Yes / No | No |
Exterior
| Foundation Details | Concrete Block |
|---|
Parking
| Parking Features | Parking Space(s), Parking Space(s) |
|---|
Utilities
| Sewer | Municipal sewage system |
|---|---|
| Water Source | Municipal water |
Area Information
| Province | PE |
|---|---|
| City | Summerside |
| Postal Code | C1N2T4 |
| Listing VS Median (in C1N2T4) | |
Price: $3,480,000 low | high Med: $0 On site: 51 low | high Med: | |
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Learn More About This Property
| Province | PE |
|---|---|
| City | Summerside |
| Postal Code | C1N2T4 |
| Listing VS Median (in C1N2T4) | |
Price: $3,480,000 low | high Med: $0 On site: 51 low | high Med: | |