Added 1 week ago
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Type: Investment
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Property Type: Commercial
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Zoning: R3
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Age: 51-99 years
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Taxes: 5177.2
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MLS®#: X11968152
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Added: Feb 11, 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 NIAGARA REALTY LTD, BROKERAGE
8 UNIT MULTIPLEX! INCREDIBLE MULTI-UNIT INVESTMENT OPPORTUNITY IN PORT COLBORNE!Discover the potential of 220-224 Mitchell & 59 Louis, a unique multi-property package featuring three separate dwellings including two duplexes and a fourplex for a total of eight units! This cash-flowing investment boasts six fully renovated and rented units, one rented but unrenovated unit, and one gutted unit approved for a five-bedroom rooming house.224 Mitchell (Fourplex): Three renovated 1-bed units plus one gutted 5-bed unit, generating $3,700/month (with major upside once the 5-bed unit is completed).59 Louis (Duplex): A 1-bed unit and a bachelor unit, generating $1,700/month, plus a garage and shed for additional value.220 Mitchell (Duplex): Two 1-bed units, each rented at $1,250, bringing in $2,500/month.Total gross rental income of $7,900/month, with significant potential for increased cash flow once the unfinished unit is completed. All three properties have newer roofs (2015), updated windows, siding, soffits, eaves, and modernized plumbing for peace of mind. The city recognizes seven units, making this a rare and highly lucrative investment opportunity with both strong current income and future appreciation potential!
Property
Status: Sale
Property Type: Investment
Property Type: Apartment
Age: 51-99
Area: Port Colborne
Availability Date: FLEC
Inside
Air Conditioning: N
Utilities
Utilities: Yes
Building
Basement: Y
Heat Type: Other
UFFI: No
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: None
Covered Parking Spaces: 2
Fees
Tax Year: 2024
Tax Legal Description: PT LT 20 W/S MITCHELL ST PL 849 PORT COLBORNE AS IN AA74633, RO7
Taxes: $5,177
Taxes Type: Annual
Land
Cross Street: CORNER OF MITCHELL A
Municipality District: Port Colborne
Parcel Number: 641640147
Lot Depth: 90 Feet
Lot Frontage: 60.28 Feet
Zoning: R3
Commercial Specific
Total Area: 4000
Total Area Metric: Sq Ft
Lot Code: Building
Somewhat Walkable
- Most errands can be accomplished on foot.
Very Bikeable
- Most errands can be accomplished on bike.
ÉÉC Saint-Joseph
Elementary: CatholicSteele Street Public School
Elementary: PublicSt Therese Catholic Elementary School
Elementary: CatholicDeWitt Carter Public School
Elementary: PublicSt John Bosco Catholic Elementary School
Elementary: CatholicMcKay Public School
Elementary: PublicÉcole secondaire Confédération
Secondary: PublicEastdale Secondary School
Secondary: PublicPort Colborne High School
Secondary: PublicCentennial Secondary School
Secondary: PublicLakeshore Catholic High School
Secondary: CatholicNotre Dame College School
Secondary: Catholic-
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