12 Bedroom
4 Bathroom
3,500 - 5,000 ft2
Fireplace
Baseboard Heaters
$975,000
Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant one requiring only minor cosmetic updates and the other ready for a full renovation.Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys offering a compelling opportunity for future intensification in a central location.A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets. (id:61594)
Property Details
|
MLS® Number
|
X12251578 |
|
Property Type
|
Multi-family |
|
Community Name
|
773 - Lincoln/Crowland |
|
Parking Space Total
|
10 |
Building
|
Bathroom Total
|
4 |
|
Bedrooms Above Ground
|
12 |
|
Bedrooms Total
|
12 |
|
Appliances
|
Dryer, Stove, Washer, Refrigerator |
|
Basement Type
|
Partial |
|
Exterior Finish
|
Stucco |
|
Fireplace Present
|
Yes |
|
Foundation Type
|
Concrete |
|
Heating Fuel
|
Natural Gas |
|
Heating Type
|
Baseboard Heaters |
|
Stories Total
|
2 |
|
Size Interior
|
3,500 - 5,000 Ft2 |
|
Type
|
Fourplex |
|
Utility Water
|
Municipal Water |
Parking
Land
|
Acreage
|
No |
|
Sewer
|
Sanitary Sewer |
|
Size Depth
|
130 Ft |
|
Size Frontage
|
110 Ft ,7 In |
|
Size Irregular
|
110.6 X 130 Ft |
|
Size Total Text
|
110.6 X 130 Ft |
|
Zoning Description
|
Insh |
https://www.realtor.ca/real-estate/28534642/480-king-street-welland-lincolncrowland-773-lincolncrowland
