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. (id:25961)
Schedule a Tour
Schedule Private Tour
The Stuewe Team would happily provide a private viewing if you would like to schedule a tour.
Match your Lifestyle with your Home
Contact the Stuewe Team, who specializes in Lanark Highlands real estate, on how to match your lifestyle with your ideal home.
Get Started Now
Lifestyle Matchmaker
Let the Stuewe Team find a property to match your lifestyle.
Rooms
| Level | Type | Dimensions |
|---|
Details
- Amenities Nearby: Public Transit, Schools
- Community Features: Community Centre
- Parking Spaces: 4
- Transaction: For sale
Building
- Amenities: Separate Electricity Meters
- Appliances: Water Heater, Stove, Refrigerator
- BasementType: N/A (Unfinished), N/A (Other, See Remarks)
- Basement Development: Unfinished,Other, See Remarks
- Bedrooms Main Level: 6
- Cooling: None
- Exterior Finish: Aluminum siding
- Fireplace Present: False
- Fire Protection: Smoke Detectors
- Foundation: Block
- Bathrooms (Total): 4
- Heating: Baseboard heaters
- Heating Fuel: Electric
- Size Interior: 2500 - 3000 sqft
- Stories Total: 2
- Type: Fourplex
Land
- Amenities: Public Transit, Schools
- Sewer: Septic System
- Size Frontage: 105 ft
- Size Irregular: 105 x 60 FT
Listing provided by RE/MAX HALLMARK REALTY GROUP
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 98 NORTH STREET in Lanark Ontario. It was last modified on September 11th, 2026. Contact the Stuewe Team to schedule a viewing or to discover other Lanark properties for sale.