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42 Riverside Drive Welland, Ontario L3C 5E2

6 Bedroom 4 Bathroom 2474 sq. ft
Wall Unit Radiant Heat Waterfront On River

$649,000

Unique Investment opportunity with this legal Multi-Unit (4) located directly on the Welland River! *VACANT POSSESSION AFTER APRIL 1/24* 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 work 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, $1000/month + hydro for Bachelor unit giving it a potential total gross rent of $6000/month or $72,000/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! (id:38042)

Property Details

MLS® Number 40534390
Property Type Multi-family
Amenities Near By Golf Nearby, Hospital, Park, Place Of Worship, Public Transit, Schools, Shopping
Community Features School Bus
Equipment Type Water Heater
Features Conservation/green Belt, Paved Driveway
Parking Space Total 6
Rental Equipment Type Water Heater
Water Front Name Welland River
Water Front Type Waterfront On River

Building

Bathroom Total 4
Bedrooms Total 6
Appliances Window Coverings
Basement Development Unfinished
Basement Type Full (unfinished)
Constructed Date 1918
Cooling Type Wall Unit
Exterior Finish Vinyl Siding
Foundation Type Block
Heating Fuel Natural Gas
Heating Type Radiant Heat
Stories Total 2
Size Interior 2474
Type Fourplex
Utility Water Municipal Water

Land

Acreage No
Land Amenities Golf Nearby, Hospital, Park, Place Of Worship, Public Transit, Schools, Shopping
Sewer Municipal Sewage System
Size Depth 70 Ft
Size Frontage 45 Ft
Size Total Text Under 1/2 Acre
Surface Water River/stream
Zoning Description Rl2

Interested?

Contact me for more information or to see it in person