Located in the heart of Summerside?s historic commercial core, 279 Fitzroy Street delivers a strong-performing, fully rented six-unit income property with exceptional location value. Its prominent corner lot, just steps from the waterfront and surrounded by key civic and commercial landmarks, provides investors with stability today and meaningful upside for the future. The three-storey building includes five one-bedroom units and one two-bedroom unit, all occupied and consistently in demand thanks to the walkable setting and updated interiors. Durable finishes and refreshed kitchens appeal to long-term tenants, while shared laundry facilities and practical storage space enhance operational convenience. Six on-site parking spaces?a rare asset downtown?create additional competitive value. With commercial zoning in place, this property offers flexibility for future redevelopment or repositioning in a growing area. Recent improvements, including new siding with added insulation, updated attic and basement insulation, and selective window replacements, support efficiency and protect long-term performance. Appliances, building systems, and utilities are already established, allowing a smooth transition for the next owner. The surrounding environment strengthens the investment case: City Hall, Holman?s Ice Cream, the Summerside Library and Inspire Learning Centre, Holland College, and a range of shops and services are all within a short walk. Strong foot traffic, active tourism, and ongoing downtown revitalization contribute to minimal vacancy and returns approaching the 7% range. Well-situated real estate in the downtown core is increasingly limited, making this both a secure holding and a strategic opportunity for future growth. Minimum 24-hour notice required for all showings. (id:4069)
Address
279 Fitzroy Street
List Price
$650,000
Property Type
Multi-family
Type of Dwelling
Apartment
Transaction Type
Sale
Area
Prince Edward Island
Sub-Area
Summerside
Year Built
1946
MLS® Number
202528112
Listing Brokerage
CENTURY 21 NORTHUMBERLAND REALTY
Basement Area
Full (Unfinished)
Postal Code
C1N1J1
Site Influences
Park, Playground, Public Transit, Recreation, Marina
Features
Balcony
Amenities
See Remarks
