514-516 Main Street Montague, Prince Edward Island C0A 1R0
$2,848,000
514 and 516 Main Street, Montague, represent a premier income-generating and development opportunity at the busiest intersection in King?s County. Set on 1.58 acres with dual access points from Main Street and Queens Road Extension, the property is uniquely positioned for visibility, accessibility, and future growth. The site includes two well-maintained residential buildings offering 23 fully rented units: 18 one-bedroom apartments and 5 two-bedroom apartments. 514 Main Street is a three-level structure with 16 residential units on the upper floors and a vacant ground floor, primed for conversion into commercial or office space to unlock additional income potential. 516 Main Street, also three levels, comprises 7 residential units and generates consistent rental income. Strategically positioned toward the rear of the property, the buildings allow for significant development on the remaining land. With zoning flexibility and unmatched visibility, this site offers vast potential for additional residential, commercial, or mixed-use projects, meeting the demands of Montague?s expanding market. 514 and 516 Main Street offer an established revenue stream with extraordinary upside for forward-thinking investors or developers seeking to make a substantial impact in a rapidly growing region. (id:11866)
Property Details
| MLS® Number | 202427855 |
| Property Type | Multi-family |
| Community Name | Montague |
| Amenities Near By | Recreation, Shopping, Marina |
| Community Features | School Bus |
| Equipment Type | None |
| Rental Equipment Type | None |
Building
| Appliances | Stove, Dryer, Washer, Refrigerator |
| Basement Type | Unknown |
| Exterior Finish | Wood Shingles, Vinyl |
| Flooring Type | Carpeted, Tile, Vinyl, Other |
| Foundation Type | Poured Concrete, Unknown |
| Heating Fuel | Oil |
| Heating Type | Furnace, Radiator |
| Stories Total | 3 |
| Type | Apartment |
| Utility Water | Municipal Water |
Parking
| Gravel | |
| Parking Space(s) |
Land
| Acreage | Yes |
| Land Amenities | Recreation, Shopping, Marina |
| Sewer | Municipal Sewage System |
| Size Irregular | 1.58 |
| Size Total | 1.58 Ac|1 - 3 Acres |
| Size Total Text | 1.58 Ac|1 - 3 Acres |
| Zoning Type | Multi-family |
https://www.realtor.ca/real-estate/27714714/514-516-main-street-montague-montague
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87 John Yeo Drive Unit 1
Charlottetown, Prince Edward Island C1E 3J3
(902) 628-6500
royallepagepei.ca/
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December 05 2024 04:33:35
Prince Edward Island Real Estate Association
Royal LePage Prince Edward Realty