22 & 24 River Street, Thorold, ON L0S 1K0
- $1,125,000
- 16
- BD
- 9
- BA
- List Price
- $1,125,000
- Price Change
- ▼ $65,000 1784013734
- MLS#
- X13002648
- Status
- ACTIVE
- Type
- Multifamily
- SubType
- Multiplex
- Style
- 2-Storey
- Bedrooms
- 16
- Bathrooms
- 9
- Living Area
- 5000 +
- Province
- ON
- Municipality
- Thorold
- Area
- Niagara
- Neighborhood
- 561 - Port Robinson
- Subdivision
- Bridge Street And River Street
Property Description
9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/1125000= 6.4% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/1,125,000=12.2% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a Mortgage with a reasonable down payment for 2 years at 4.5%
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Additional Information
- Taxes
- $9,463
- Heat Type
- Baseboard
- Heat Source
- Electric
- Air Conditioning
- Window Unit(s)
- Lot Depth
- 159
- Kitchens
- 9
- Exterior
- Concrete, Vinyl Siding
- Garage Type
- None
- Pool
- None
- Parking Spaces
- 9
- Parking Type
- Available, Boulevard, Private
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Listing courtesy of RE/MAX SUCCESS REALTY.