Multi-residential properties for sale in PEI
Invest in a duplex, triplex, apartment, or any other multi-unit property in PEI.
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Buying multi-residential properties in PEI
Multi-residential properties such as duplexes, triplexes, and apartments make great investments.
If you’re interested in living in one unit while renting out a second to a tenant, then a duplex is ideal for you. The rent you change will help cover your mortgage, utilities and other expenses that come with running a household.
Smaller multi-unit properties of up to five units can be purchased and mortgaged under the same terms as single family units – but you’ll need a commercial mortgage over five units.
In most cases, multi-residential homes are not eligible for mortgage insurance. You’ll need a 20% down payment. Some lenders can offer a 5% downpayment on duplexes.