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55 JOHN STREET N, Thorold (Thorold Downtown) — listed at $1,300,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
Legal five-plex featuring seven well-appointed apartment units, each offering 2 bedrooms and 2 bathrooms, ideally located in downtown Thorold. This fully tenanted property generates strong and stable income with an approximate 6% cap rate. An excellent opportunity for both investors and owner-occupiers seeking to offset living costs with rental income. The building has been updated with renovated units and exterior improvements, enhancing both tenant appeal and long-term value. No rental items or contracts are associated with the property, ensuring straightforward ownership and lower operating complexity. Vendor take-back (VTB) financing may be available for qualified buyers. The building's roof and chimney have been recently replaced with new ones. (id:60164)
What's the parking situation?+
This property includes 11 spaces — Attached Garage, Garage.
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $6,650, heating is other, other. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the home heated? Is it efficient?+
Heating is other, other. Ask for past utility bills to understand real heating costs.
Does it have a basement, and is it finished?+
Yes — Finished, Walk out, N/A. A finished basement adds meaningful living space beyond the listed square footage.
What makes this a luxury property?+
At $1,300,000, standout features include 7 bathrooms. In this price range, expect higher-end finishes — verify during a showing.
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