This property offers four suites; two in the front structure and one in the back, all currently vacant, allowing you to choose your tenants and secure top-market rent near the 1% rule with a potential NOI of $50,000 upon filling vacant units. Each suite has separate meters for hydro and water, with sub-meters installed, leaving only gas expenses to the landlord. Tenants benefit from ample off-street and street parking options. Shared laundry facilities are available on-premise for added convenience. Capital improvements made in 2022/2023 include a new furnace for units 3 & 4 in the back structure, new windows, roof, soffit, eavestrough, and gutters. The front structure's roof remains in excellent condition. The property is insulated and features sub-meters for hydro and water. Further cosmetic enhancements in 2022/2023 include new interior and exterior doors contemporary kitchens, commercial-grade high-wear flooring, tile, smart thermostats, and revamped bathrooms.
Located in an area with affordable property taxes, strong rental demand, and low vacancy rates; a practical investment opportunity. Easy access to marinas; parks, and the Welland Canal, an appealing choice for tenants.
City: Port Colborne
Sold Comparables homes near Durham St, Port Colborne
Located at 129 Durham St , this Port Colborne house was listed for $624,900. This house's size is 2000-2500 Sqft. It has 6 bedrooms and 3 bathrooms. The property includes the following rooms: Kitchen, Bathroom, Br, Living, Kitchen, Bathroom, Br, Living, Kitchen, Bathroom, Br, Living. This property comes with 4 parking spots.
MLS#: X6656058 · $624,900 · 6 bedroom house in Port Colborne