Added 1 week ago
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Type: Investment
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Property Type: Commercial
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Business Type: Apts-2 To 5 Units
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Zoning: R2
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Age: 100+ years
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Taxes: 5063.56
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MLS®#: X11953409
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Added: Feb 03, 2025 (1 week ago)
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Updated:
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Last Checked: 3 hours ago
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Listed By: RE/MAX ESCARPMENT GOLFI REALTY INC.
Legal 5-Unit Multiplex in Prime Niagara Falls Location Exceptional investment opportunity in the heart of Niagara Falls. This legal five-unit multiplex is fully tenanted with five A+ tenants, offering stable rental income and hassle-free management. All five units are above grade, providing bright and spacious living spaces that attract quality tenants. The property consists of three one-bedroom units, one studio unit, and one two-bedroom unit, catering to a diverse range of renters. Financials have been carefully accounted for, with expenses including a 5% vacancy rate and a 5% maintenance cost, ensuring accurate and realistic projections. Additional revenue is generated from Coinamatic laundry, which is fully equipped and operates on a set schedule for tenants' convenience. This multiplex is fully fire compliant, featuring a steel fire escape for added safety. The building has been professionally managed and well maintained, ensuring smooth operations with minimal expenses. Tenants benefit from inclusive utilities, making this an attractive rental option with strong occupancy rates. Driveway parking is available for tenants with vehicles, adding further convenience and value to the property. Located in a high-demand area, the property is within close proximity to public transit, shopping, dining, entertainment, and major Niagara Falls attractions. With legal status, strong income, low vacancy, and minimal maintenance requirements, this is an outstanding addition to any real estate portfolio. Don't miss this rare opportunity.
Property
Status: Sale
Type: Apts-2 To 5 Units
Property Type: Investment
Property Type: Apartment
Age: 100+
Area: Niagara Falls
Community: 212 - Morrison
Availability Date: Flexible
Inside
Air Conditioning: N
Utilities
Utilities: Available
Building
Basement: Y
Heat Type: Radiant
Energy Certificate: N
Green Verification Status: N
Freestanding: Y
Water Supply: Municipal
Physically Handicapped-Equipped: N
Parking
Garage Type: None
Covered Parking Spaces: 6
Fees
Tax Year: 2024
Taxes: $5,064
Taxes Type: Annual
Land
Cross Street: Victoria Ave / Jepso
Municipality District: Niagara Falls
Parcel Number: 643380102
Lot Depth: 101.5 Feet
Lot Frontage: 45 Feet
Lot Irregularities: 45.10ft x 101.65ft x
Zoning: R2
Commercial Specific
Total Area: 2314
Total Area Metric: Sq Ft
Franchise: N
Tangible Property Included: Y
Lot Code: Building
Financial Statement: Y
ÉÉC Saint-Antoine
Elementary: CatholicÉcole élémentaire LaMarsh
Elementary: PublicSimcoe Street Public School
Elementary: PublicSt Patrick Catholic Elementary School
Elementary: CatholicSt Mary Catholic Elementary School
Elementary: CatholicValley Way Public School
Elementary: PublicThorold Secondary School
Secondary: PublicWestlane Secondary School
Secondary: PublicStamford Collegiate
Secondary: PublicSaint Michael Catholic High School
Secondary: CatholicSaint Paul Catholic High School
Secondary: CatholicA N Myer Secondary School
Secondary: Public
