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Key Details
Sold Price $1,125,000
Property Type Multi-Family
Sub Type Multi-4 Unit
Listing Status Sold
Purchase Type For Sale
Square Footage 3,220 sqft
Price per Sqft $349
MLS Listing ID 40599915
Sold Date 08/09/24
Bedrooms 8
Abv Grd Liv Area 3,220
Originating Board Niagara
Year Built 2021
Annual Tax Amount $1,937
Property Description
Built in 2021 by Mountainview, this building is a turn-key investment and the perfect opportunity to take over this newly constructed multi-plex that is fully leased with great tenants and potential to finish 2 more units in the basement with large egress windows! All units are separately metered for gas and hydro which is paid for by the Tenants. Each unit is 2 bedrooms, 1 bathroom with in-suite laundry, it's own furnace, central air conditioner, hot water heater, a full kitchen with stainless steel fridge, stove & dishwasher and bright open living space measuring 805 sqft each. There is potential to complete the lower level two units that replicate the other 4 units, potentially making this a 6-plex. The exterior walls in the basement are insulated and the water is all plumbed-in. There are a total of 6 off-street parking spots, one assigned for each unit. Security cameras installed on exterior of building. Start your retirement plan earning passive income from this great opportunity! The landlord currently has a 5% cap rate and potential for 8% once the lower two units are completed and leased. Landlord pays water/sewer, property tax, property insurance & snow removal. Security cameras are installed on perimeter of building working off wifi. Floor plans are available.
Location
Province ON
County Niagara
Area Welland
Zoning RL2, RM
Direction Lincoln St, South on Afton Ave.
Rooms
Basement Separate Entrance, Walk-Up Access, Full, Unfinished
Kitchen 0
Interior
Interior Features Built-In Appliances, Separate Heating Controls, Separate Hydro Meters
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Appliance Dishwasher, Dryer, Refrigerator, Stove, Washer
Laundry In-Suite
Exterior
Exterior Feature Private Entrance, Separate Hydro Meters
Garage Mutual/Shared
Waterfront No
Roof Type Asphalt Shing,Flat
Lot Frontage 45.01
Lot Depth 130.0
Parking Type Mutual/Shared
Garage No
Building
Lot Description Rectangular, Near Golf Course, Highway Access, Hospital, Park, Place of Worship, Playground Nearby, Public Transit, Quiet Area, Rec./Community Centre, School Bus Route, Schools, Shopping Nearby
Faces Lincoln St, South on Afton Ave.
Story 2
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Level or Stories 2
Structure Type Vinyl Siding
New Construction No
Others
Senior Community false
Tax ID 641190023
Ownership Freehold/None
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