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$1,150,000
Est. payment /mo
8 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3000-3500
Subdivision 768 - Welland Downtown
MLS Listing ID X12135582
Style 2-Storey
Bedrooms 8
Building Age 51-99
Annual Tax Amount $5,303
Tax Year 2024
Property Sub-Type Multiplex
Property Description
INCOME PROPERTY WITH SIGNIFICANT DEVELOPMENT & VALUE-ADD POTENTIAL! Fantastic opportunity in one of Wellands most promising growth corridors. This well-maintained 5-unit building sits on an oversized 63 x 190 lot, zoned RL2 & RM, just steps from the Welland Canal, Merritt Island Park, and close to major amenities including Welland Hospital and Niagara College. The property features 4 spacious 2 Bed 1 Bath apts, (each approx. 1000 sq.ft) 5 parking spaces, high basement ceiling with potential for an additional unfinished unit, and strong long-term value. A planner-commissioned concept sketch (available to serious inquiries) outlines a 32-unit redevelopment vision for the site. The area also presents potential for future land assembly, offering added scale for developers exploring larger residential intensification projects. Ideal for investors, developers, or those seeking a well-located income property with long-term upside. Conceptual plans were prepared by a third party and have not been submitted to the City. Buyer to conduct their own due diligence.
Location
Province ON
County Niagara
Community 768 - Welland Downtown
Area Niagara
Rooms
Family Room No
Basement Partially Finished, Walk-Up
Kitchen 4
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Front Yard Parking
Pool None
Roof Type Flat,Tar and Gravel
Lot Frontage 63.0
Lot Depth 190.0
Total Parking Spaces 5
Building
Foundation Block, Concrete Block
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Listed by RE/MAX ESCARPMENT REALTY INC.