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$ 850,000
Est. payment | /mo
8 Beds
4 Baths
$ 850,000
Est. payment | /mo
8 Beds
4 Baths
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Subdivision 211 - Cherrywood
MLS® Listing ID X13806508
Bedrooms 8
Property Description
Louise apartments. An incredible, purpose-built brick fourplex offering stable immediate returns alongside massive rental upside, ideal for multi-generational families co-buying together or owners looking to live in one unit while offsetting their mortgage! Located in an established neighborhood just one mile from the Niagara University campus, this exceptionally well-maintained building features four spacious 2-bedroom units-each complete with a full bath, full kitchen, living room, private entrance, and private porch or balcony. Fully upgraded for low-maintenance ownership, major capital improvements include a complete electrical rewire with five separate meters, four individual water heaters, an efficient gas boiler approximately eight years old, and a complete roof replacement in 2018 down to the plywood, topped with high-quality metal for lifetime durability. Safety and utility features abound with fire-rated walls, interconnected smoke detectors, a basement fire suppression system, a backflow preventer, a commercial-grade sump pump, and a convenient master key system. The basement houses commercial-grade Whirlpool coin laundry and private storage rooms for each unit, while a detached three-car garage with separate doors provides potential extra storage income. This fully optimized property features long-term, highly reliable tenants providing immediate cash flow from day one. All major structural and mechanical upgrades have already been completed, offering total peace of mind. Current rents are significantly below market value at $927.47, $874.45, $1,508.57, and $835.38 (all plus hydro). With market rents in the area commanding $1,750 to $1,850 per unit, this property offers an incredible opportunity to systematically transition to full market rates and dramatically increase your ROI.Truly a rare, low-maintenance portfolio addition where the heavy lifting is already done! (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features Yes
View Y/N No
Attached Garage No
Total Parking Spaces 7
Garage Yes
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE
Nearby Locations
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