Property Information:

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:27)

Building Features:

Style: Multiplex
Basement Development: Partially finished
Basement Type: Partial
Construction Material: Concrete block, Concrete Walls, Wood frame
Exterior Finish: Concrete, Stucco, Wood
Fire Protection: Unknown
Floor Space: 3028 sqft
Foundation Type: Block
Heating Type: Forced air
Heating Fuel: Natural gas

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Amenities Nearby: Hospital, Park, Playground, Public Transit, Schools, Shopping
Community Features: School Bus
Features: Southern exposure, Paved driveway, Laundry- Coin operated
Floor Space (approx): 3028 Square Feet
Lot Depth: 100 Feet
Lot Frontage: 53 Feet
Structure Type: Shed
Zoning: RL2
Sewer: Municipal sewage system
Parking Type: Detached garage, Open
No. of Parking Spaces: 9

Courtesy of: Real Broker Ontario Ltd.

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Demographic Information of 256 LINCOLN Street, Welland, Ontario, L3B 4N1

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$67,680.48

Average Number of Children

1.62

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.68 %

High school certificate or equivalent

37.24 %

Apprenticeship trade certificate/diploma

7.88 %

College/non-university certificate

22.63 %

University Degree

7.56 %

Commuter

Travel To Work

By Car

80.4 %

By Public Transit

1.21 %

By Walking

5.81 %

By Bicycle

1.14 %

By Other Methods

11.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

54.37 %

Houses

45.63 %

256 LINCOLN Street, Welland, Ontario, L3B 4N1