Legal Triplex! Located downtown Welland, a well maintained home and ready to be leased. The units are vacant and when rented it makes an exceptional cash flow positive investment. When it was rented in 2024, the property was grossing $56,700.00 annually and is now offered at a 7% cap rate. Unit 1 (2-beds) was renting for $1,750, Unit 2 (3-beds) for $1,650.00, and unit 3 (bachelor) for $1,300.00. Located just steps from the vibrant Welland Farmers' Market, Merritt Island Park, the Welland River, and the city's revitalized downtown core, this charming turn-of-the-century home is ideally located for convenience and lifestyle. Live in one unit while generating rental income from the others, or co-purchase with a partner to build equity together. The home has been well maintained and retains much of its original charm, while offering updated functionality. Updates: Electrical (2024), Bathroom Renovated 3rd floor (2025), New Appliances in 3rd floor (2025), Insulated 2nd floor ceiling to improve with sound from top floor (2025). Coined washer and dryer are not included but available for purchase if needed. Boiler has been serviced every year. Separate hydro and gas meters and three hot water heaters. This is a solid house and investment. (id:61594)
| MLS® Number | 40730627 |
| Property Type | Multi-family |
| Amenities Near By | Hospital, Marina, Park, Public Transit, Schools |
| Equipment Type | Water Heater |
| Features | Laundry- Coin Operated |
| Parking Space Total | 4 |
| Rental Equipment Type | Water Heater |
| Bathroom Total | 3 |
| Bedrooms Total | 5 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Cooling Type | None |
| Exterior Finish | Brick, Vinyl Siding |
| Foundation Type | Block |
| Stories Total | 3 |
| Size Interior | 2,821 Ft2 |
| Type | Triplex |
| Utility Water | Municipal Water |
| Detached Garage |
| Access Type | Highway Access |
| Acreage | No |
| Land Amenities | Hospital, Marina, Park, Public Transit, Schools |
| Sewer | Municipal Sewage System |
| Size Depth | 70 Ft |
| Size Frontage | 40 Ft |
| Size Total Text | Under 1/2 Acre |
| Zoning Description | Dmc |
https://www.realtor.ca/real-estate/28344721/23-avenue-place-welland
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