55/63 Russell Street Summerside, Prince Edward Island C1N 2T4
$3,480,000
Located at 55?63 Russell Street in Summerside, Prince Edward Island, this offering presents an opportunity to acquire a modern 16-unit multi-residential investment property comprising two purpose-built 8-unit apartment buildings. Built in 2020 by AFFLECK Construction, the property offers investors the benefits of newer construction, functional unit layouts, and potentially reduced near-term capital expenditure requirements compared with older multi-family inventory. All 16 residential units feature a two-bedroom, one-bathroom layout, with each unit including in-suite laundry with its own washer and dryer, along with a fully equipped kitchen featuring a stove, refrigerator, dishwasher, and microwave. The property is currently fully occupied, providing an established rental income stream and a stable operating profile. Its combination of modern construction, consistent unit configuration, and full occupancy makes it well suited to investors seeking a quality income-producing asset with long-term holding potential. The property is conveniently located in Summerside with access to shopping, schools, employment, healthcare, public services, and other everyday amenities, supporting continued tenant demand and long-term rental appeal. This offering is suitable for experienced multi-residential investors, portfolio owners seeking to expand their holdings, and qualified purchasers looking to acquire a substantial rental asset in Prince Edward Island. A detailed rent roll, operating statements, and supporting financial information are available to qualified purchasers upon request. To respect tenant privacy and minimize disruption, showings will be arranged for serious and financially qualified purchasers only, with a minimum of 48 hours? notice. 55?63 Russell Street offers a compelling opportunity to acquire a fully occupied, relatively modern 16-unit multi-residential asset in one of Prince Edward Island?s key regional markets. (id:34223)
Property Details
| MLS® Number | 202622661 |
| Property Type | Multi-family |
| Community Name | Summerside |
| Amenities Near By | Park, Playground, Public Transit |
| Community Features | School Bus |
| Equipment Type | None |
| Rental Equipment Type | None |
Building
| Amenities | Laundry Facility |
| Appliances | Stove, Dishwasher, Washer/dryer Combo, Intercom, Microwave Range Hood Combo, Refrigerator |
| Basement Type | None |
| Cooling Type | Air Exchanger |
| Exterior Finish | Vinyl |
| Flooring Type | Carpeted, Laminate, Tile |
| Foundation Type | Concrete Block |
| Heating Fuel | Electric |
| Heating Type | Wall Mounted Heat Pump, Space Heater |
| Type | Apartment |
| Utility Water | Municipal Water |
Parking
| Parking Space(s) | |
| Parking Space(s) |
Land
| Acreage | No |
| Land Amenities | Park, Playground, Public Transit |
| Sewer | Municipal Sewage System |
| Size Irregular | 0.78 |
| Size Total | 0.78 Ac|1/2 - 1 Acre |
| Size Total Text | 0.78 Ac|1/2 - 1 Acre |
| Zoning Type | Multi-family |
https://www.realtor.ca/real-estate/30246653/5563-russell-street-summerside-summerside
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September 09 2026 03:39:38
Prince Edward Island Real Estate Association
Royal LePage Prince Edward Realty