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$877,000

Welland (Welland Downtown) ON, L3B 2T4

MLS® # X12486330

Property Information:

PHASE ONE ENVIRONMENTAL FULL REPORT AVAILABLE. (SUMMARY IN ATTACHMENTS) NO FURTHER INVESTIGATION REQUIRED SO GOOD TO GO FOR FINANCING!!! Calling all savvy investors!! 5-Plex with ability to add more units or use the existing autoshop with hoist!! Now with a potential 6.80% cap rate if tenant leases the autoshop or woodshop for only $1500.00 a month, office and basement. Could also use rental income from residential units to have a free autoshop and make a very lucrative business. Entire building has a metal roof so no up-keep needed. Shop can easily be turned into 3 more units at least or can add revenue by renting out as a shop with office space and a two piece bathroom. Current 5 unit apartment building with spacious apartments and mostly renovated throughout. All 6 Hot water heaters are owned and replaced in 2022. Room measurements for all units available upon request. No interior photos of units as per tenants request. Each unit is spacious and offers nice floor plan with high ceilings on main floor. Individually metered units for Hydro, Coin Laundry on Site. All units have own panel box in their units. Building also offers interconnected smoke alarms in common areas. Basement is very large and was waterproofed from the inside fully by Wisecracks 2010, and offers potential for personal use or can add additional storage lockers to tenants for an additional income stream or rent out basement separately for storage and add to the NOI (Net Operating Income). Showings will only be Wednesday from 11 - 7 and Saturday 12 - 5 with listing agent present. (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Multi-Family
  • Air Conditioning: Yes
  • Floor Space: 6536 sqft
  • Heating Type: Radiant heat
  • Cooling Type: Partially air conditioned
  • Appliances: Dryer, Washer

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 6
  • Amenities Nearby: Public Transit
  • Floor Space (approx): 6536 Square Feet
  • Irregular: Yes
  • Lot Depth: 155.0 Feet
  • Lot Frontage: 45.8 Feet
  • Lot Size: Bldg=45.75 x 155 FT
  • Zoning: RL2
  • No. of Parking Spaces: 5

Potential Investment Performance

There is not enough data on this property to provide a potential investment performance at this time, please click the button below for an in-person valuation

Location of 192 BURGAR STREET, Welland (Welland Downtown), Ontario, L3B 2T4

Demographic Information of 192 BURGAR STREET, Welland (Welland Downtown), Ontario, L3B 2T4

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$71,538.90

Average Number of Children

1.56

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.49 %

High school certificate or equivalent

38.24 %

Apprenticeship trade certificate/diploma

8.43 %

College/non-university certificate

20.86 %

University Degree

7.99 %

Commuter

Travel To Work

By Car

88.74 %

By Public Transit

0.5 %

By Walking

6.6 %

By Bicycle

0.0 %

By Other Methods

4.16 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

41.98 %

Houses

58.02 %

Own Vs. Rent