Property

Summerside, PE C1N1J1 279 FITZROY Street

Presented By: EXIT Realty PEI
  • MLS# 202615419
  • 06/17/2026
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Home Details

A rare opportunity to acquire a fully leased, income producing multiplex in the heart of downtown Summerside. 279 Fitzroy Street delivers immediate cash flow from day one, backed by a strong rental history and dependable, long term tenants. The current owner has successfully managed the property remotely, proving just how turn key and low maintenance this investment truly is. The zoning is Commercial, offering future flexibility and redevelopment potential for investors with vision. Set on a prominent corner lot, this well maintained three storey building features five 1 bedroom units and one 2 bedroom unit, most finished with updated interiors. Recent capital upgrades ? including apartment upgrades, improved attic and basement insulation, security upgrades and roof replacements ? have meaningfully reduced near term maintenance costs while improving energy efficiency, a meaningful advantage for any new owner's bottom line. The current owner is also planning a further heating system upgrade ahead of sale, positioned to improve operating efficiency and strengthen the property's financials going forward. Tenants enjoy a walkable downtown lifestyle just steps from the waterfront, City Hall, the Summerside Library, Holland College, local shops, and Holman's Ice Cream. This is more than a lifestyle perk ? proximity to Holland College and core municipal employers underpins a steady, renewing tenant base, while six on site parking spaces (a genuine rarity in this downtown core) give the property a real competitive edge over comparable rentals. The building offers shared laundry and dedicated tenant storage, and is delivering returns approaching the 8% range ? a strong yield for a stabilized, turn key asset in a market with limited new rental supply and ongoing downtown revitalization. (id:7434)
Presented By: EXIT Realty PEI

Interior Features for 279 FITZROY Street

Other Interior Features

Basement DevelopmentUnfinished
Basement TypeFull (Unfinished)
Building Fireplace PresentFalse
Building Heating FuelElectric, Oil
Building Heating TypeFurnace, Hot Water, Radiator
Flooring TypeCarpeted, Hardwood, Laminate, Vinyl

General for 279 FITZROY Street

AmenitiesPark, Playground, Public Transit, Recreation, Marina
Building AppliancesStove, Refrigerator
Building TypeApartment
Community FeaturesSchool Bus
CommunityNameSummerside
FeaturesBalcony
Foundation TypeStone
Ownership TypeFreehold
Property TypeMulti-family
ZoningTypeMulti-Family

Exterior for 279 FITZROY Street

Exterior FinishWood siding
Land AmenitiesPark, Playground, Public Transit, Recreation, Marina
SewerMunicipal sewage system

Additional Details

Gurwinder Lidder

Sales Representative
Price $600,000
MLS#202615419
List Date 06/17/2026
Property Type Apartment
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