50 Welland Avenue,St. Catharines (Downtown), ON L2R2M5
St. Catharines (Downtown), ON L2R2M5
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:13843)
Details
| MLS # | X13525844 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 116 |
| Listing Provided By | REVEL Realty Inc., Brokerage | Phyllis De Prophetis |
Features
| Bed(s) | 11 |
|---|---|
| Bath(s) | 7 Total |
| SQ Feet | 3,000 |
| Basement | Y |
| Story(s) | 3 |
| Zoning | R3 |
Interior
| Cooling | Window air conditioner |
|---|---|
| Heating | Radiant heat, Natural gas |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Carpet Free |
|---|---|
| Foundation Details | Poured Concrete |
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 5 |
Utilities
| Sewer | Sanitary sewer |
|---|---|
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 7300 |
|---|
Area Information
| Province | ON |
|---|---|
| City | St. Catharines (Downtown) |
| Postal Code | L2R2M5 |
| Listing VS Median (in L2R2M5) | |
Price: $1,489,000 low | high Med: $894,450 sqft: 3,000 low | high Med: 1,893 $ / sqft: $496 low | high Med: $439 On site: 116 low | high Med: 66.5 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | St. Catharines (Downtown) |
| Postal Code | L2R2M5 |
| Listing VS Median (in L2R2M5) | |
Price: $1,489,000 low | high Med: $894,450 sqft: 3,000 low | high Med: 1,893 $ / sqft: $496 low | high Med: $439 On site: 116 low | high Med: 66.5 | |
