608-618 Lorne Ave

About this Property

This 11-unit residential purpose-built comples delivers immediate cash flow and stands out as a turnkey investment opportunity with strong cash flow and significant principal recapture after mortgage payments. Located on a quiet street just off Algonquin Ave., the property consists entirely of eleven 2-bedromm units that have undergone major renovations, including comprehensive updates to all kitchens, bathrooms, flooring, trim, lighting, paint, and more. From a financail perspective, the asset generates a gross rental invome of $273,436 with estimated operating expenses of $80,979 (inclusive of management, vacancy, and maintenance), resulting in a solid net income before financing of $192,457 and a highly competitive 6.52% cap rate. Features include hot water boiler system, secure security doors, and 15 dedicated spaces, while the utility framework structures all rents plus hydro. Adding to it's long-term tenant appeal, the building is situated within easy walking distance of local shopping, neighborhood restaurants, and the main bus route on Algonquin Ave itself. Please note that the listing photos provided were taken previous to the tenants moving into the units.

Listing Details

MLS #

X14103574

Board

PROPTX

Market

ontario

Property Type

Multiplex

Style

Bungalow-Raised

Garage

None

Parking Spaces

15

Basement

None

Heating

Water

Cooling

None

Pool

None

Lot Size

125 × 96 ft

Annual Taxes

$26,832/yr

Listed By

REALTY EXECUTIVES Local Group Inc. Brokerage

Listed On

October 21, 2026

Features & Extras