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50 WELLAND AVENUE, St. Catharines (Downtown) — listed at $1,489,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
7 UNITS. FULLY RENTED. $124,000 IN ANNUAL GROSS INCOME. Opportunities to acquire a fully occupied multi-residential asset in the heart of St. Catharines don't come along every day. This established 7-unit building offers investors immediate income from day one, with a desirable unit mix of 3 one-bedroom apartments and 4 two-bedroom apartments. With approximately $124,000 in annual gross income, positive cash flow and a strong cap rate, this is an opportunity to add scale to your portfolio without the uncertainty and carrying costs associated with vacant units or a major repositioning project. Located in downtown St. Catharines, the property places tenants close to shopping, restaurants, public transit, everyday amenities, and the ongoing investment and revitalization throughout the downtown core. The property also features on-site parking, a low-maintenance exterior and on-site laundry offering an additional income stream. Whether you're expanding an existing portfolio, moving into multi-residential investing or looking to reposition capital into an income-producing real estate asset, this property deserves a closer look. 7 units. 100% occupancy. Income in place. One property with the ability to make an immediate impact on your portfolio.Detailed financial information available for qualified buyers. (id:60164)
Is 50 WELLAND AVENUE a good fit for a growing family?+
With 11 bedrooms and 7 bathrooms, there's room for kids plus a guest room or home office. The 3-storey layout keeps living and sleeping areas separated.
How is the home heated? Is it efficient?+
Heating is radiant heat, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
Is there air conditioning?+
Yes — window air conditioner cooling is in place.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $7,300, heating is radiant heat, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
What's the parking situation?+
This property includes 5 spaces — No Garage.
What makes this a luxury property?+
At $1,489,000, standout features include 7 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
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