Description
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.
Overview
Property ID:
X12251578
Type:
Fourplex
Bedrooms:
12
Bathrooms:
4
Square:
4,250 m²
Price:
$975,000
PropertyType:
Residential Freehold
TransactionType:
For Sale
BuildingAreaUnits:
Square Feet
Cooling:
None
Heating:
Baseboard
ParkingFeatures:
None
YearBuilt:
Unknown
TaxAnnualAmount:
3806
PossessionDetails:
TBD
Map
-
AddressWelland
Contact Agency
Write A Review
0 Reviews
0 out of 5
Featured properties
The Most Recent Estate
Selling
Fourplex
5 days ago
$1,425,000
Ottawa Centre, 4103 - Ottawa Centre
Selling