42 Riverside Drive, Welland, ON, L3C 5E2

$499,000

MLS® # 40534390

Investment For Sale In West Main, Welland, Ontario

$499,000

Property Information:

Unique Investment opportunity with this legal Multi-Unit (4) located directly on the Welland River! *VACANT POSSESSION OF ALL 4 UNITS* Possibilities are endless with this 4 unit property consisting of 1 - 3 bedroom unit, 2 - 1 bedroom units, and a Bachelor unit. Separate hydro meters for unit 3 & 4, and shared hydro meter for unit 1 & 2. Walk out Entrance from Lower LeveL Flat Roof replaced in 2013. Heated by efficient boiler system. Building does need extensive work (update interior finishes throughout) to get current market rent values which are estimated at approximately $1800/month + hydro for 3 bed, $1600/month + hydro for each - 2 bedroom units, $750/month + hydro for Bachelor unit giving it a potential total gross rent of $5750/month or $69,000/yr! The potential of this property alone makes it worth a look to see if the numbers may work for you! Book your showing today!

Inclusions: Other,Turn Key Everything Included.

Building Features:

  • Floor Space: 2474 Square Feet

Property Features:

  • Bedrooms: 6
  • Acres Range: < 0.5
  • Basement: Separate Entrance, Walk-Out Access, Full, Unfinished
  • Built in: 1918
  • Construction Materials: Vinyl Siding
  • Cooling: Wall Unit(s)
  • Docking Type: None
  • Driveway Parking: Private Drive Triple+ Wide
  • Floor Space (approx): 2474 Square Feet
  • Heating: Natural Gas, Radiant
  • Interior Features: Separate Heating Controls, Separate Hydro Meters, Other
  • Laundry Features: Shared
  • Lot Depth: 70 Feet
  • Lot Features: Rectangular, Ample Parking, Dog Park, City Lot, Near Golf Course, Greenbelt, Hospital, Open Spaces, Park, Place of Worship, Public Parking, Public Transit, School Bus Route, Schools, Shopping Nearby
  • Lot Frontage: 45.00 Feet
  • Other Structures: Workshop
  • Parking Features: Asphalt
  • Roof: Flat
  • Water Source: Municipal
  • Waterfront Features: River, River Front
  • Zoning: RL2
  • Sewer: Sewer (Municipal)
  • No. of Parking Spaces: 6

Courtesy of: REVEL Realty Inc., Brokerage

Data provided by: Niagara Association of REALTORS® 116 Niagara Street, St. Catharines, Ontario L2R 4L4
All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind. Copyright© 2021 All Rights Reserved

Additional Photos