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22 & 24 RIVER STREET, Thorold (Port Robinson) — listed at $999,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
FINAL REDUCTION VENDOR MUST SELL!! 9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/999000= 6.1% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/999,000=13.8% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage for $600,000 for 2 years at 4.5% Won't Last Long!! Below the AVM amount. (id:60164)
Is 22 & 24 RIVER STREET a good fit for a growing family?+
With 16 bedrooms and 9 bathrooms, there's room for kids plus a guest room or home office. The 2-storey layout keeps living and sleeping areas separated.
Does it have a basement, and is it finished?+
The listing describes the basement as: Apartment in basement, N/A. Confirm the finishing status during a showing — it affects both livable space and resale value.
How is the home heated? Is it efficient?+
Heating is baseboard heaters, forced air, electric. Electric heating can mean higher winter bills — ask for past utility statements.
Could this work as an investment property?+
The basement description mentions: Apartment in basement, N/A. If it has a separate entrance, there may be rental income potential — but verify zoning and whether a legal second unit is permitted in Thorold (Port Robinson) before counting on it.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 16 bedrooms and 9 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
What's the parking situation?+
This property includes 9 spaces — No Garage.
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