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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
$767,900
54-56 Mill Pond Lane, cornwall, Prince Edward Island

54-56 Mill Pond Lane

Cornwall, Prince Edward Island

Great turnkey investment property. Duplex located in the fast growing West River Estates subdivision. Each unit has 3 bedrooms, 2 full baths, with the primary bedroom having ensuite bathroom with double vanity and 2 spacious walk-in closets. Open concept kitchen/dining/living room. Enjoy your heated double car garage with double paved driveways. Home heating and electricity is under $2000 yearly per side with heat pumps. Tenants are paying heats and lights. Kitchen includes granite counter tops, stainless steel appliances and a large island. Soft close doors, back private decks and front covered decks. Everything on one floor/no stairs. Minutes to many amenities of Cornwall and close to Charlottetown. City water and sewer. Tenants on both sides. Very easy to rent. Quick closing available. City bus service to Charlottetown. (id:50344)

For sale
$799,000
265 Richmond Street, charlottetown, Prince Edward Island

265 Richmond Street

Charlottetown, Prince Edward Island

One of a kind historic property overlooking a beautiful city park, a short walk to the Charlottetown waterfront and the downtown area. This property has paved off street parking at the rear. Offered is a 4-1 bedroom unit building, Unit # 3 has access to the third floor by way of a spiral staircase constructed and installed by Ravenwood Stairways in 2023. This unit could be converted to a 3 or 4 bedroom apartment or condo. Surveys and Condo Association paperwork have been drawn up. There is numerous sheets of drywall already in stored on the third floor ready for finishing. A new High Efficiency Bureaus furnace was installed in Dec 2023, a high end oil tank is in place and a new electric 60 gal water heater was also installed in 2023, The building has most of the work completed to be converted to Condos. Please Note : The Listing Agent is part owner of the property. (id:50344)

For sale
$1,620,000
16-22 Beech Hill Avenue, east royalty, Prince Edward Island

16-22 Beech Hill Avenue

East Royalty, Prince Edward Island

Investment property. This listing features 2 duplexes - each side complete is a spacious 1380 sq. ft. duplex on a slab featuring an open concept kitchen, living room with vaulted ceilings, 3 well-sized bedrooms and a double car garage. The master bedroom includes a walk-in closet and en-suite bathroom complete with a large double vanity with stone tops. The kitchen includes a large island, pantry and quartz countertops. Excellent location in the growing community of East Royalty. 3 Units are under lease and one unit is vacant for showing. Easy to rent. Tenants pay for heat/lights/grass cutting/ snow removal. (id:50344)

For sale
$649,000
31 CHURCH HILL Avenue, north rustico, Prince Edward Island

31 Church Hill Avenue

North Rustico, Prince Edward Island

Well maintained 6 unit apartment building in the heart of North Rustico. Each unit features an eat-in kitchen, a living room with doors leading to a back deck, two bedrooms, full bathroom, laundry, and in floor heat. The town?s grocery store, restaurants, bakery, post office and new recreation center are within short walking distance. A gas station, hardware store, liquor store, pharmacy, bank, Lions Club and Bowling alley are just a short drive away. North Rustico has gorgeous beaches, a great park, boardwalk shops, and a beautiful harbour that all add charm to the area! Heat is paid for by the landlord and each unit has its own electrical meter. All units are currently filled and rent controlled. (id:50344)

For sale
$649,000
15 SUNRISE Crescent, north rustico, Prince Edward Island

15 Sunrise Crescent

North Rustico, Prince Edward Island

Well maintained 6 unit apartment building in the heart of North Rustico. Each unit features an eat-in kitchen, a living room with doors leading to a back deck, two bedrooms, full bathroom, laundry, and in floor heat. The town?s grocery store, restaurants, bakery, post office and new recreation center are within short walking distance. A gas station, hardware store, liquor store, pharmacy, bank, Lions Club and Bowling alley are just a short drive away. North Rustico has gorgeous beaches, a great park, boardwalk shops, and a beautiful harbour that all add charm to the area! Heat is paid for by the landlord and each unit has its own electrical meter. All units are currently filled and rent controlled. (id:50344)

For sale
$669,000
3-5 Ridgemount Court, charlottetown, Prince Edward Island

3-5 Ridgemount Court

Charlottetown, Prince Edward Island

Discover a remarkable investment opportunity in Charlottetown's highly sought-after Spring Park area! This well-maintained duplex is perfect for investors and families alike, offering both comfort and convenience in an idyllic neighbourhood setting. The first unit, No. 3, boasts four spacious bedrooms and two bathrooms, creating an ideal haven for a growing family. The wood-burning fireplace insert in the living area adds a cozy touch, while the open-concept layout ensures a bright and inviting atmosphere. Enjoy a heat pump for energy efficient heating and cooling. The covered patio is perfect for dining and entertaining, and with lower-level in-floor heating, you'll enjoy year-round comfort. The private driveway provides ample space for parking. Unit No. 5 features a stylish two-storey design with three bedrooms and 1.5 bathrooms, as well as a full basement offering additional living and storage space. The private driveway ensures hassle-free parking for residents or tenants. Nestled on a quiet cul de sac, this splendid duplex sits on a generous 0.21-acre plot within a popular school district, making it an ideal choice for families. With a total of four parking spaces and a location close to local amenities, this property is truly a rare find. Don't miss your chance to secure this outstanding investment opportunity and provide a beautiful home for your family or tenants. Enquire today! (id:50344)

For sale
$390,000
305-307 Connolly Crescent, montague, Prince Edward Island

305-307 Connolly Crescent

Montague, Prince Edward Island

Beautiful DUPLEX located at the centre of Montague with two bedrooms and one large bathroom in each unit. A great opportunity to live in one side while renting the other side out for extra income. This duplex is at the end of a quiet street on Connolly Crescent in Montague. It is close to all amenities, hospital, grocery stores, and schools. A new roof was changed in 2019. Unit 305 has all appliances, flooring, paint, and fixtures updated in 2019. Both units have fiberglass oil tanks updated as well. Unit 305 has a well-maintained tenant who has been living there since 2018 and is required to pay for her own heat and electricity with $800 rent per month. Unit 307 is vacant right now with the potential to rent over $1000 per month with the current rental market. (id:50344)

For sale
$449,000
14-16 Felling Street, charlottetown, Prince Edward Island

14-16 Felling Street

Charlottetown, Prince Edward Island

Charlottetown Triplex located at 14-16 Felling Street is available for purchase. Situated in a mature, peaceful neighbourhood, this property is highly desirable to tenants as you can walk to most amenities or a bike ride to all conveniences that come with living in a city including minutes from the Confederation trail. The property has undergone renovations, from the installation of a new boiler pot in the furnace, spray foam insulated the walls in the basement plus the back 2 rooms of unit 16. All of Unit 16 has been renovated. The property features three 2 bedroom units, all occupied with great tenants. Rent amounts include heat and water, tenants pay their own electricity. (id:50344)

For sale
$799,000
6948 Rustico, north rustico, Prince Edward Island

6948 Rustico

North Rustico, Prince Edward Island

Excellent income opportunity - year round or seasonal rentals! This 6 unit, fully furnished property currently operating as a seasonal business consists of 1 - 4BR winterized house, 2 duplex units; each with a 1BR and a 2BR unit and a standalone 3BR chalet. Continue to operate seasonally, with PEI's lucrative tourism based short term rental market, or, decide to rent as long term rentals. The main house has a newly installed propane forced air furnace, new water heater with other recent updates including: roof, 200 amp panel and 5' deep, heated in-ground pool. The other units are also insulated and heated and would only require some skirting insulation and minor additions to be winter ready! Fantastic opportunity to live in the heart of PEI's North Shore Communitiy while earning an income at the same time! (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.

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