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$528,500
Est. payment /mo
5 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision 211 - Cherrywood
MLS Listing ID X12683850
Style 2-Storey
Bedrooms 5
Annual Tax Amount $2,405
Tax Year 2025
Property Sub-Type Triplex
Property Description
Legal non-conforming triplex with upside, ideally located in the heart of Niagara Falls. It features two two-bedroom units and one bachelor unit, offering flexible living and rental options. This property presents an excellent opportunity for first-time buyers and investors seeking reliable income in a high-demand area. Live in one unit while the others help offset your mortgage, or fully lease the property for steady cash flow. The home is currently priced based on its existing interior finishes and layout, with rent projections reflecting its present livable condition. With cosmetic updates and personal touches, there is strong potential to enhance livability and rental returns. Whether you're an investor pursuing value-add upside or a buyer looking to customize over time, this property offers flexibility and long-term potential. Key upgrades include two separate hydro meters, a NEW furnace, and NEW central air. A majority of windows are NEW, providing improved efficiency and reduced operating costs. Located minutes from the Tourist District, casinos, GO Train, Niagara University, transit, shopping, and major employment hubs, the area continues to experience strong rental demand. Niagara Falls is also part of a long-term vision to evolve into the "Las Vegas of the North," supported by significant investments in tourism, infrastructure, and entertainment. With projected gross rents of approximately $46,800 per year and an estimated net income of $37,376, this property offers solid cash flow at an accessible price point. Updated mechanicals, separate meters, and a proven rental layout make this a compelling income-producing opportunity in one of Niagara's most active and evolving rental markets.
Location
Province ON
County Niagara
Community 211 - Cherrywood
Area Niagara
Zoning R2
Rooms
Family Room No
Basement Separate Entrance, Unfinished
Kitchen 3
Interior
Interior Features Carpet Free, Separate Hydro Meter
Cooling Central Air
Inclusions 3 Stoves, 3 Fridges, 1 Washer & 1 Dryer
Exterior
Parking Features Front Yard Parking, Private Double, Other
Pool None
Roof Type Asphalt Shingle
Lot Frontage 29.6
Lot Depth 150.0
Total Parking Spaces 2
Building
Foundation Poured Concrete
Others
Senior Community No
ParcelsYN No
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Listed by COSMOPOLITAN REALTY
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