37-43 Leonard Avenue
Quinte West, ON
12 bed • 4 bath • approx. 1500-2000 sqft • Fourplex • 28 days on market
Excellent investment opportunity! Rarely offered purpose-built four-plex, each unit offering 3 bedrooms, 1 bath, in-suite laundry hookups, and its own dedicated outdoor storage shed. Situated on a large corner lot, the building is designed for low-maintenance ownership with no interior common areas to maintain. Each unit also features its own paved driveway with parking for up to 3 vehicles. Current gross annual rents are $58,860, and the property is already cash-flow positive, with substantial upside as units turn over. Tenants pay all utilities, except one unit where water is included. Unit 39 has been renovated and is leased for $2,000/month plus utilities, demonstrating the true rental potential available for the building. With minimal upgrades to the remaining units as they turn over, the property's total rent potential could reach approximately $96,000 annually. An especially rare offering- this property delivers substantial cash flow. Ideal for investors or owner-occupiers alike, where income from the three rented units can significantly offset housing costs, creating the possibility of living here with minimal to no monthly out-of-pocket expenses. A truly exceptional chance to secure a stable, cash-flowing multi-family asset with long-term growth potential.
Listing Details
- Taxes (2025)
- $4,599
- Listed
- July 30, 2026
Price History
Listing history
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Property
- Style
- 1 Storey/Apt
- Age
- 51-99
- Construction
- Brick
- Roof
- Asphalt Shingle
- Foundation
- Block
- Interior
- Primary Bedroom - Main Floor, Separate Hydro Meter, Water Heater
- Lot Size
- 105.83 x 102.63 Feet
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Creelman and Leonard Avenue.
- Zoning
- R5
- Parcel Number
- 404130070
- Possession
- Flexible
Commercial
- Occupancy
- Tenant
Included
- Inclusions
- Three fridges, three stoves, 1 hot water heater, laundry appliances in 3 units.
- Exclusions
- Appliances in unit #37 are owned by tenant.
- Rental Items
- 3 hot water tanks (Approx $140 a month)
Schools
Elementary
- V P Carswell Public School0.5 km
Public · Hastings & Prince Edward DSB · 155 students
Grade 3 reading: 80% met the provincial standard · Grade 6 math: 25% met the provincial standard
- Trent River Public School1.2 km
Public · Hastings & Prince Edward DSB · 460 students
Grade 3 reading: 54% met the provincial standard · Grade 6 math: 35% met the provincial standard
- St Mary Catholic School1.6 km
Catholic · Algonquin and Lakeshore CDSB · 360 students
Grade 3 reading: 72% met the provincial standard · Grade 6 math: 46% met the provincial standard
Secondary
- École secondaire publique Marc-Garneau2 km
French public · CÉP de l'Est de l'Ontario · 85 students
Grade 10 literacy: 100% met the provincial standard
- École secondaire catholique L'Envol2.1 km
French Catholic · CSDC du Centre-Est de l'Ontario
- Trenton High School2.7 km
Public · Hastings & Prince Edward DSB · 460 students
Grade 10 literacy: 42% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area K8V
- Population
- 28,936
- Private dwellings
- 12,523
- Median age
- 43.6
- Average household size
- 2.4
- Median household income
- $76,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Residential Freehold in Quinte West · last 12 months
- Median sold price
- $510,000
- Homes sold
- 658
- Median days on market
- 29
- Sale-to-list price
- 97.6%
Based on 658 recorded sales of residential freehold properties in Quinte West over the last 12 months.
Rooms
2 × 4-piece on Main, 2 × 4-piece on Lower
Main
- Bathroom6'10" x 4'10"
- Bedroom 210'9" x 8'
- Bedroom 310'4" x 7'9"
- Dining Room8'2" x 11'5"
- Kitchen6'8" x 11'
- Living Room9'9" x 15'11"
- Primary Bedroom11' x 9'8"
- Utility Room6'9" x 5'
Listed by
RE/MAX Jazz INC.
Location
Mortgage Calculator
$138,000
Estimated Monthly Payment
$3,390
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $3,390/mo (20% down, 5.5%)
Taxes: $383/mo · Insurance: $173/mo
Estimates only. Consult a financial advisor.
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