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:4069)
Address
514-516 Main Street
List Price
$2,848,000
Property Type
Multi-family
Type of Dwelling
Apartment
Area
Prince Edward Island
Sub-Area
Montague
Lot Size
1.58 Sq. Ft.
MLS® Number
202427855
Listing Brokerage
ROYAL LEPAGE PRINCE EDWARD REALTY
Basement Area
Unknown
Postal Code
C0A1R0
Site Influences
Recreation, Shopping, Marina
