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256 LINCOLN Street, Welland — listed at $1,049,900. Earn buyer cashback at closing. No catches, just more money in your pocket.
A turnkey, income generating property in the heart of Welland. This exceptionally well maintained, 5-unit residential apartment building sits in a highly desirable central location, offering strong rental appeal and long-term value, with significant recent capital improvements including a new hot water heating system (2024), newer vinyl thermo windows 2018, and with on-site laundry for all tenants. Most units feature updated flooring and fresh paint, while the exterior stucco 2021 is in excellent condition reflecting the pride of ownership. Tenants benefit from an unbeatable location within walking distance to a major shopping plaza on Lincoln St., two elementary schools, the scenic Welland Canal walking and cycling paths, and vibrant downtown amenities. This property is also serviced by the Niagara Region wide bus route, making it attractive to a broad tenant base. Additional highlights include separate hydro meters, on site parking, and a double car garage at the rear of the property with the potential to generate an additional $1,200 annually by renting out half the garage space. Currently tenanted by quality, reliable residents, this solid and centrally located multi-unit investment asset represents a rare find in one of Niagara's growing communities. (id:60164)
What makes this a luxury property?+
At $1,049,900, standout features include 3028 sq ft. In this price range, expect higher-end finishes — verify during a showing.
What's the parking situation?+
This property includes 9 spaces — Detached Garage, Open.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,632, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Does it have a basement, and is it finished?+
Yes — Partially finished, Partial. A finished basement adds meaningful living space beyond the listed square footage.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 0 bedrooms and 0 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
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