Prime investment opportunity in the heart of downtown St. Catharines. This 18-room rental property spans a total gross floor area of +/-6651 sq.ft (618 sqm). Currently rented at $500 - $875 per room, with potential to add another room, this building offers a robust income stream with multiple opportunities for optimization. The property is equipped with fibre optic internet infrastructure, providing reliable, hardwired connections to every bedroom. Security features include trackable key card and punch code entry at each exterior door, with locked doors for every bedroom. Located only 900 meters from the St. Catharines bus terminal (a 12-minute walk), the property is situated in a highly walkable neighborhood close to various amenities. Building construction is resilient to damage, ensuring minimal maintenance and straightforward property management. There are significant opportunities to enhance net operating income through streamlined operations, tenant demographic adjustments, and other efficiencies. Property includes full kitchen and laundry facilities on each floor. The upper level features 10 bedrooms, 3 full baths, 1 individual shower, and 1 half bath. The lower level houses 8 bedrooms with potential for a 9th, along with 3 individual showers and 3 half baths. (id:47421)
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Listed By
COLLIERS INTERNATIONAL NIAGARA LTD., REVEL Realty Inc., Brokerage
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Detailed Information
Bathrooms
7
Lot
40 x 100 ft
Amenities Nearby
Public Transit
Equipment
Other
Features
Laundry- Coin operated
Listing Contract Date
2024-07-26
Location Description
Wellington Street and Duke Street
Ownership Type
Freehold
# of Parking Spaces
3
Property Type
Multi-family
Rental Equipment
Other
Transaction Type
For sale
Zoning Description
C1-93
Building
Appliances
Microwave, Window Coverings
Basement Development
Finished
Basement Type
Full (Finished)
Construction Material
Concrete block, Concrete Walls
Cooling Type
Central air conditioning
Exterior Finish
Concrete
Foundation Type
Block
Heating Fuel
Natural gas
Stories Total
2
Utility Water
Municipal water
Land
Total Size
0 acres
Amenities
Public Transit
Sewer
Municipal sewage system
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