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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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For sale
$285,000
11-13 Orlebar Street, charlottetown, Prince Edward Island

11-13 Orlebar Street

Charlottetown, Prince Edward Island

Downtown location, line up of tenants wanting to rent. 5-minute walk to Holland College. New heat pumps and electric heat. Two bedrooms, living area, dining room and kitchen! Great long-term investment. Main floor rents for $995. Second floor $900. (id:50344)

For sale
$529,900
18-20 Selkirk Crescent, charlottetown, Prince Edward Island

18-20 Selkirk Crescent

Charlottetown, Prince Edward Island

Welcome to this charming duplex nestled in Charlottetown on a quiet crescent street, perfect for families seeking both comfort and convenience. Each unit boasts three spacious bedrooms and a bright, inviting bathroom, providing ample space for relaxation and daily living. With its family-friendly atmosphere and proximity to downtown, this property offers the ideal balance of suburban serenity and urban accessibility. Whether you're looking for a peaceful retreat or a vibrant city lifestyle, this duplex promises the best of both worlds. Plus, with both sides vacant upon closing, the opportunity for customization and investment awaits. Don't miss out on making this duplex your new home sweet home. All measurements are approximate and should be verified by the Buyer(s). (id:50344)

For sale
$985,500
239 Cumberland Street, charlottetown, Prince Edward Island

239 Cumberland Street

Charlottetown, Prince Edward Island

239 Cumberland Street!...This is an exceptional income property nestled in the heart of Charlottetown, offering convenience, comfort, and a promising investment opportunity. This restored building stands within walking distance to downtown, Holland College, and an array of amenities, ensuring a desirable location for tenants and investors alike. The property has undergone significant upgrades, including a new roof, new siding, high-efficiency furnace, fiberglass oil tank, and installation of two brand new electric hot water tanks. These updates enhance the property's longevity and efficiency, reducing maintenance costs for the owner. With eight rental units, this property offers a steady stream of income for the discerning investor. The units are in high demand due to their convenient location and well-maintained amenities, ensuring consistent occupancy and a healthy return on investment. Each unit is equipped with its own washer/dryer and heat pump, providing tenants with convenience and comfort. Off-street parking further adds to the appeal of the property, enhancing tenant satisfaction and attracting potential renters. The units at 239 Cumberland Street are in high demand, with a track record of being easily rented out. The property's prime location, coupled with its historical charm, make it a sought-after choice among tenants. The combination of recent upgrades, prime location, and high demand for rental units ensures both short-term profitability and long-term appreciation potential. Whether you're a seasoned investor looking to expand your real estate portfolio or a newcomer to the market seeking a reliable investment, 239 Cumberland Street offers the perfect blend of income potential and property value appreciation. Don't miss out on this chance to own a piece of Charlottetown's thriving rental market. (id:50344)

For sale
$815,000
44-46 Samantha Lane, cornwall, Prince Edward Island

44-46 Samantha Lane

Cornwall, Prince Edward Island

Your dream home is currently under construction at "Scottsview Meadows", Cornwall's newest subdivision. This duplex is comprised of two 1288 square feet of finished living space which consists of 3 bedrooms, 2 bathrooms and a large double car garage. The open concept interior boasts a custom designed kitchen with quartz countertops, plenty of storage space and patio doors looking out onto the back deck for you to enjoy those early mornings or peaceful evenings. Scottsview Meadows has restrictive covenants in place to protect your investment. This property also includes an 8 year Lux warranty to validate its craftsmanship. This beautiful duplex is located in the heart of Cornwall where you will find all the amenities you will need for your convenience: Gas stations, local post office, grocery stores, pharmacy, dental offices, schools, parks, APM rink, shopping, restaurants, recreation centre and walking trails. Whether you are looking for a place to call home or an income property, this is a must see. Co-operating commission to be paid on net sale price. HST rebate to be signed back to the seller. Taxes/assessments to be determined. Measurements are approximate and should be verified by the buyers with the attached floor plans if necessary. Listing agent is part owner of the development. (id:50344)

For sale
$1,355,000
93 Water Street, charlottetown, Prince Edward Island

93 Water Street

Charlottetown, Prince Edward Island

Welcome to this perfect property, it is located in down town area just opposite the Delta Hotel. The whole building has 4 apartments and 2 street-facing shops. All in good condition. The building brings very stable incomes every year. Apartment 1 and 2 both are about 1000 square feet 2 level apartments. Each has two bedrooms/one living room and one bathroom, private laundry. Floor, toilet and shower were updated in 2021. Apartment 3 is about 600 square feet, two bedroom/one living room/one bath, 5 years new flooring, kitchen and bathroom. Apartment 4 is about 750 square feet, two bedroom/one living room/ one bathroom, Floor, toilet and shower were updated in 2020. All apartments have their own hot water tank. The street-facing shops, left one is about 400 square feet and right one is about 450 square feet. Each shop has its own washroom and storage space. Flooring updated to tile floors in 2020. The shops always fully rented because of the excellent location. In addition, good brand oil furnace and oil tank (fiber material) have been updated in 2018. Backyard can part 3 or 4 cars. Access to backyard parking space via a shared driveway. Contact agent for more details. (id:50344)

For sale
$529,999
74 Sydney Street, charlottetown, Prince Edward Island

74 Sydney Street

Charlottetown, Prince Edward Island

Downtown Triplex! Don't miss your chance to own this renovated Downtown Charlottetown rental property that generated a net income of $21K before interest in 2023, with one unit being owner occupied. Currently all units are fully rented and not owner occupied. This building has: new bathrooms, kitchens, paint, roof, oil tank and external doors with one 2 bedroom unit and two 1 bedroom units walking distance to everything including the waterfront, the new public library and always fully rented! Property taxes are currently $4,374.79 per year. All units will come furnished with the exception of a few items which is a huge bonus to potential landlords and tenants. (id:50344)

For sale
$279,900
594 Main Street, montague, Prince Edward Island

594 Main Street

Montague, Prince Edward Island

One time century home on C-1 zoned lot on Main St Montague is presently used as an over/under duplex income property. This property is presently completely vacant, and easy to show. updates include windows, roof and furnace. Good location walking distance to most everything Montague offers. Great opportunity to own a well priced duplex. All measurements approx. (id:50344)

For sale
$629,000
449-451 Queen Street, charlottetown, Prince Edward Island

449-451 Queen Street

Charlottetown, Prince Edward Island

Located in the vibrant heart of Charlottetown, this stacked duplex boasts an ideal location, surrounded by a great community and is close to all amenities, steps away from shopping centers, schools, churches, public transportation, and more. The property features a 3-bedroom unit with one bathroom and a 4-bedroom unit with 1.5 bathrooms, along with 5 paved parking spaces, making it a fantastic income generator. Additionally, there's a spacious Detached garage (22 x 12) that provides convenience and storage space. Furthermore, there's an empty lot with great potential to unlock its value. The duplex has undergone a series of renovations and upgrades, including a new roof in 2022, new windows and doors in 2019, updated electric heating and hot water systems in 2016, a new countertop added in 2023, and a new range hood in 2022 for one unit. The property has also received updates in terms of appliances and flooring, a fresh coat of paint, and a new roof for the garage in 2022. All of these improvements contribute to the long-term stability and low maintenance of the property. The great condition and low vacancy rate make this property an exceptional investment choice. Whether you are an experienced or novice investor, this duplex offers a hard-to-miss opportunity to expand your income portfolio. (id:50344)

For sale
$350,000
138 Sackville Street, montague, Prince Edward Island

138 Sackville Street

Montague, Prince Edward Island

138 Sackville St. is a 6 unit Income property with 2 -1BR apartments and a garage on the ground floor with 4 - 2BR apartments on the 2nd and 3rd floors. Currently fully rented and one tenant manages the property. Heat and hot water is provided by 2 forced air furnaces and 3 hot water heaters. 5 of the 6 units have been updated. Location close to shopping, churches, hospitals, rinks, boating, fishing, swimming, golf and ball fields. Great location for retired couples, young professionals or young families. (id:50344)

For sale
$299,000
539 Main Street, montague, Prince Edward Island

539 Main Street

Montague, Prince Edward Island

539 Main Street in Montague is a 3 storey investment property with commercial and retail operations on the main floor and residential apartments on the 2nd & 3rd Floor. (id:50344)

For sale
$750,000
70 Spring & 247 Church Street|247 Church St., summerside, Prince Edward Island

70 Spring & 247 Church Street, 247 Church St.

Summerside, Prince Edward Island

Located in a mature, quiet neighborhood within walking distance to most amenities. These character buildings border on the beautiful Wyatt Hetitage city park. Partial brick home in good condition with lots of character and with original woodwork inside. You could easily live in the 2 story home and continue renting the 6 unit next door at 247 Church to subsidize your income or mortgage. Units on main floor and second floor are quite large with alot of character. Several units have decks which overlook the park. All units currently occupied on a month to month with heat, electricity and TV included for most units. . Each of the units are separately metered for electricity if you choose to want the tenants to pay their own expenses. Two buildings to be sold as a package. The current owner has had the buildings for about 8 years and has done many upgrades including new roofs and new Propane hot water boiler. Very easy buildings to operate and are well maintained with excellent occupancy. Minimum of 24 hours notice to view. (id:50344)

For sale
$544,900
4-6 High Street, charlottetown, Prince Edward Island

4-6 High Street

Charlottetown, Prince Edward Island

Fantastic side by side duplex at 4 & 6 High Street in the community of Parkdale in a quiet neighborhood and walking distance to UPEI. One side is an updated three bedroom, 2 bath unit with a large rec room in the lower level. The other side is a 3 bedroom, one bath with a rec room in the lower level. Each unit has their own oil tank and electrical meter. Fantastic opportunity to invest, live in one side and have income from the other. All measurements are approximate and should be verified by the Purchaser. (id:50344)

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.