50 WELLAND AVENUE
St. Catharines (Downtown), Ontario
MLS® X13525844
$1,489,000
- Status
- Active
- Property type
- Multi-family
- MLS® number
- X13525844
- Bedrooms
- 11
- Bathrooms
- 7
- Year built
- —
1 / 17Listing description
7 UNITS. FULLY RENTED. OVER $125,000 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 $125,000 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.
Property summary
- MLS® number
- X13525844
- Property type
- Multi-family
- Building type
- Other
- Land size
- 50 x 115 FT
- Annual property taxes
- $7,300.00
- Parking
- 5 spaces · No Garage
- Days on market
- 55 days
Features & details
- Heating
- Radiant heat, Natural gas
- Cooling
- Window air conditioner
- Basement
- Full
- Exterior features
- Brick
- Lot features
- Carpet Free
What would this home cost you?
Based on the $1,489,000 asking price at a 5.00% example rate, semi-annual compounding.
Renanza Realty Inc. can represent you on this property — send an enquiry to arrange a private viewing.
Listing courtesy of REVEL Realty Inc., Brokerage, Niagara Falls.
The listing data displayed here is provided in part by the Canadian Real Estate Association (CREA) through its Data Distribution Facility (DDF®) and is drawn from Boards and Associations across Canada. Information is deemed reliable but is not guaranteed accurate by CREA. The listings are held by brokerages other than Renanza Realty unless otherwise noted.
The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by CREA and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.