Added 5 months ago
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Type: Investment
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Property Type: Commercial
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Zoning: C1-93
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Age: 51-99 years
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Taxes: 5424
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MLS®#: X9411911
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Days on Site: 144 Days
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Added: Jul 26, 2024 (5 months ago)
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Updated:
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Last Checked: 4 hours ago
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Listed By: COLLIERS INTERNATIONAL NIAGARA LTD.
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. Potential Vendor financing option on approved OAC and terms.
Property
Status: Sale
Property Type: Investment
Age: 51-99
Area: St. Catharines
Community: 451 - Downtown
Availability Date: Other
Assessment Amount: $331,000
Assessment Year: 2024
Inside
Air Conditioning: Y
Building
Basement: Y
Heat Type: Radiant
Freestanding: Y
Water Supply: Municipal
Parking
Garage Type: Outside/Surface
Covered Parking Spaces: 3
Fees
Tax Year: 2023
Tax Legal Description: Lt 803 CP PL 2 Grantham; St. Catharines
Taxes: $5,424
Expenses: Est
Land
Cross Street: Wellington Street an
Municipality District: St. Catharines
Parcel Number: 462170096
Sewer: Sanitary
Lot Depth: 100 Acres
Lot Frontage: 39.99 Acres
Zoning: C1-93
Commercial Specific
Total Area: 6650
Total Area Metric: Sq Ft
Area Influence: Public Transit
St Nicholas Catholic Elementary School
Elementary: CatholicEdith Cavell Public School
Elementary: PublicÉÉC Immaculée-Conception
Elementary: CatholicSt Denis Catholic Elementary School
Elementary: CatholicSt Anthony Catholic Elementary School
Elementary: CatholicHarriet Tubman Public School
Elementary: PublicDSBN Academy
Secondary: PublicLifetime Learning Centre Secondary School
Secondary: PublicSt Catharines Collegiate Institute and Vocational School
Secondary: PublicEden High School
Secondary: PublicSir Winston Churchill Secondary School
Secondary: PublicDenis Morris Catholic High School
Secondary: Catholic
