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35 Ontario Road Welland, Ontario L3B 5C1

9 Bedroom 4 Bathroom 8000 sq. ft
None Forced Air

$1,299,900

Presenting a mixed-use multi-unit property with huge potential, this solid commercial/residential building is ideally situated in the dynamic heart of Welland, directly across from the upcoming Linamar's Giga Casting Factory development. This project, poised to create approximately 200 new jobs, promises a substantial boost to the local economy. Diverse income sources: 4 residential apartments, 2 commercial units, plus a garage. 165 ft Deep Lot giving the opportunity to expand with 4 more apartments (drawings available). Current Net Income: $84,789 with a 6.5% Cap Rate. Potential Cap Rate growth to 9.2% Each floor spans 4,000 sq. ft. Residential mix: 3 two-bedroom and 1 three-bedroom apartments. Comprehensive renovations completed in 2016. Roof updated in 2017. Proximity to Welland Canal, local hospital, bus routes, shopping centers, and essential amenities. Easy access to major highways. Located in one of Niagara's fastest-growing areas, surrounded by significant residential (Empire Canals) and commercial developments (Linamar's Giga Casting Factory). Don't miss the chance to capitalize on this promising investment in Niagara. Information Brochure is attached to the Listing. (id:38042)

Property Details

MLS® Number 40530276
Property Type Multi-family
Amenities Near By Hospital, Public Transit
Parking Space Total 10

Building

Bathroom Total 4
Bedrooms Total 9
Basement Development Unfinished
Basement Type Partial (unfinished)
Cooling Type None
Exterior Finish Brick
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 8000
Utility Water Municipal Water

Parking

Attached Garage

Land

Access Type Highway Access
Acreage No
Land Amenities Hospital, Public Transit
Sewer Municipal Sewage System
Size Depth 165 Ft
Size Frontage 70 Ft
Size Total Text Under 1/2 Acre
Zoning Description Cc2, Insh

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