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GARRY BASSAN

buysellgarrybassan@gmail.com +1(647) 285-5790

$ 1,125,000

Est. payment -/mo

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Price Dropped by $65K

22 & 24 River ST Thorold, ON L0S 1K0

16 Beds

9 Baths

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 +

Subdivision 561 - Port Robinson

MLS Listing ID X13002648

Style 2-Storey

Bedrooms 16

Annual Tax Amount $9,463

Tax Year 2025

Property Sub-Type Multiplex

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 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 First Mortgage with 15% min down payment.

Location

Province ON

County Niagara

Area Niagara

Rooms

Family Room No

Basement Apartment

Kitchen 9

Interior

Interior Features Floor Drain, Separate Hydro Meter, Water Meter, Sump Pump

Cooling Window Unit(s)

Fireplace Yes

Heat Source Electric

Exterior

Parking Features Available, Boulevard, Private

Pool None

Roof Type Asphalt Shingle

Lot Frontage 89.38

Lot Depth 159.7

Total Parking Spaces 9

Building

Unit Features Campground,Greenbelt/Conservation,Hospital,Park,Place Of Worship,River/Stream

Foundation Concrete

Others

ParcelsYN No

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Listed by RE/MAX SUCCESS REALTY

NEARBY SCHOOLS & PROPERTIES

GARRY BASSAN

Sales Representative | License ID: 5006208

+1(647) 285-5790

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