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$ 425,000
Est. payment | /mo
3 Beds
2 Baths
1,100 SqFt
$ 425,000
Est. payment | /mo
3 Beds
2 Baths
1,100 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100 - 1500
Square Footage 1,100 sqft
Price per Sqft $386
Subdivision 768 - Welland Downtown
MLS® Listing ID X13524072
Bedrooms 3
Property Description
Attention investors and savvy buyers! This separate metered duplex in the heart of downtown Welland offers strong rental income and excellent long-term potential. Ideally located just steps to the Welland Farmers' Market, restaurants, shopping, parks, schools and public transit, this property combines convenience with cash flow. The front unit features 2 spacious bedrooms and rents for $1,409/month, while the rear unit offers 1 bedroom plus a den/home office and rents for $1,178/month, generating a gross annual income of $31,044. Based on the current income and operating expenses, the property offers an approximate 5.4% cap rate. Separate hydro and gas meters help reduce operating expenses, making this an attractive investment. The unfinished basement provides laundry and additional storage space. Situated on a 33 x 132 ft lot, the front tenant enjoys exclusive use of the covered front porch while the rear tenant has access to the private backyard. Whether you're looking to expand your investment portfolio, live in one unit while offsetting your mortgage with rental income, or add a duplex to your holdings, this property is an opportunity you won't want to miss. Approximate cap rate is based on current rental income and annual operating expenses as provided by the Seller. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Window air conditioner
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 2
Garage No
Private Pool No
Building
Story 1.5
Sewer Sanitary sewer
Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE
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