Address
50 Welland Avenue, St. Catharines (Downtown), ON
Price
$ 1,489,000
Property Attributes
- ID#X13525844
- TypeMulti-Family
- Listing Status Active
- MunicipalitySt. Catharines (Downtown)
- CitySt. Catharines (Downtown)
- Area451 - Downtown
- Neighbourhood451 - Downtown
- Postal CodeL2R 2M5
- Style
- Price$ 1,489,000
- Bedrooms11
- Bathrooms7
- Half Bathrooms0
Data Source:
Canadian Real Estate Association (CREA)
Property Description
7 UNITS. FULLY RENTED. $124,000 IN ANNUAL GROSS INCOME. Opportunities to acquire a fully occupied multi-residential asset in the heart of St. Catharines don't come along every day. This established 7-unit building offers investors immediate income from day one, with a desirable unit mix of 3 one-bedroom apartments and 4 two-bedroom apartments. With approximately $124,000 in annual gross income, positive cash flow and a strong cap rate, this is an opportunity to add scale to your portfolio without the uncertainty and carrying costs associated with vacant units or a major repositioning project. Located in downtown St. Catharines, the property places tenants close to shopping, restaurants, public transit, everyday amenities, and the ongoing investment and revitalization throughout the downtown core. The property also features on-site parking, a low-maintenance exterior and on-site laundry offering an additional income stream. Whether you're expanding an existing portfolio, moving into multi-residential investing or looking to reposition capital into an income-producing real estate asset, this property deserves a closer look. 7 units. 100% occupancy. Income in place. One property with the ability to make an immediate impact on your portfolio.Detailed financial information available for qualified buyers. (id:7434)
General Features
| Features | Carpet Free |
|---|---|
| Property Type | Multi-family |
| Zoning Description | R3 |
| CommunityName | 451 - Downtown |
| Building Cooling Type | Window air conditioner |
| Location Description | Cross Streets: Lake/Welland. ** Directions: LAKE TO WELLAND. |
| Parking Space Total | 5 |
| Foundation Type | Poured Concrete |
| Building Type | Other |
| Building.StoriesTotal | 3 |
Interior Features
| Building Fireplace Present | False |
|---|---|
| Building Heating Type | Radiant heat |
| Building Heating Fuel | Natural gas |
| Basement Type | Full |
| Living Area Range | 3000 |
| Bedrooms | 11 |
Exterior Features
| Sewer | Sanitary sewer |
|---|---|
| Exterior Finish | Brick |
Amenities
- Views
- New Construction
- Adult 55+
- Lease To Own
- No Strata Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in L2R 2M5
Price
In The Neighbourhood
Just Listed
St. Catharines (Downtown)
$ 998,500
- Type
- Multi-Family
- Rooms
- 5 Beds + 3 Baths
ROYAL LEPAGE NRC REALTY
St. Catharines (Downtown)
$ 1,799
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 599,900
- Type
- Multi-Family
- Size
- 2,000 SqFt
- Rooms
- 0 Beds + 0 Baths
RE/MAX GARDEN CITY UPHOUSE REALTY
St. Catharines (Downtown)
$ 1,799
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 1,725
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 1,895
- Type
- Multi-Family
- Rooms
- 1 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 1,995
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 1,799
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 1,799
- Type
- Multi-Family
- Rooms
- 2 Beds + 1 Baths
RE/MAX NIAGARA REALTY LTD, BROKERAGE
St. Catharines (Downtown)
$ 449,900
- Type
- Multi-Family
- Rooms
- 4 Beds + 3 Baths
ROYAL LEPAGE NRC REALTY
St. Catharines (Downtown)
$ 2,400,000
- Type
- Multi-Family
- Rooms
- 11 Beds + 11 Baths
RE/MAX GARDEN CITY REALTY INC, BROKERAGE
Data provided by the Ontario Regional Technology & Information Systems. The information is deemed reliable, but is not guaranteed. Not intended to solicit buyers or sellers, landlords or tenants currently under contract.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned