78 Geneva Street, St. Catharines | Image 1

78 Geneva Street

St. Catharines

  • Commercial

$999,888
For Sale

Added 2 months ago

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  • Type: Investment

  • Property Type: Commercial

  • Business Type: Apts-6 To 12 Units

  • Zoning: Retail Or Office

  • Age: No Data

  • Taxes: 3549.59

  • MLS®#: X8066882

  • Days on Site: 52 Days

  • Added: Feb 14, 2024 (2 months ago)

  • Updated:

  • Last Checked: 2 hours ago

  • Listed By: RE/MAX GOLD REALTY INC.

Welcome to your next investment venture with a 6.5% cap rate in the heart of St. Catharines! This exceptional property presents a lucrative opportunity for savvy investors. Boasting 4/5 vacant residential units - including two spacious one-bedroom units and three versatile bachelor suites - and a thriving laundromat business on the main floor, equipped with 21 washers and dryer units, this property is primed for immediate income generation. Plus, with the potential to add a sixth unit in the basement, the possibilities or maximizing returns are endless. Updated boiler systems, approved permits, and a detached structure with neighboring properties undergoing redevelopment plans further elevate its value. Data room available in brochure link.

Extras

Located on a main thoroughfare with its own future redevelopment potential, this property promises not just immediate cash flow but also long-term growth prospects. Dont miss out this rare investments gem in booming St. Catharines

Property

  • Status: Sale

  • Type: Apts-6 To 12 Units

  • Property Type: Investment

  • Property Type: Apartment

  • Net Income: 64882

  • Area: St. Catharines

  • Availability Date: Immediate

  • Assessment Year: 2023

Inside

  • Air Conditioning: Part

Utilities

  • Utilities: Yes

Building

  • Basement: Y

  • Heat Type: Gas Hot Water

  • Energy Certificate: N

  • Freestanding: Y

  • Water Supply: Municipal

Parking

  • Garage Type: None

Fees

  • Tax Year: 2023

  • Taxes: $3,550

  • Expenses: Est

  • Management Expense: 3370

  • Insurance Fee: 2574

  • Operating Fees: 19364

  • Hydro Expense: 1816

  • Heat Expenses: 1816

  • Taxes Type: Annual

  • Tax Year: 2023

  • Water Fees: 4238

Land

  • Cross Street: Geneva St & Church S

  • Municipality District: St. Catharines

  • Parcel Number: 462630022

  • Lot Depth: 100.22 Feet

  • Lot Frontage: 33.07 Feet

  • Lot Irregularities: 24.85Ft. X 39.19Ft. X

  • Zoning: Retail Or Office

Commercial Specific

  • Total Area: 3450

  • Total Area Metric: Sq Ft

  • Days Open: V

  • Franchise: N

  • Tangible Property Included: Y

  • Lot Code: Unit

  • Vacancy Allowance: 1728

  • Financial Statement: Y

  • Gross Income/Sales: 86397

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Walker's Paradise

  • Daily errands do not require a car.
97 /100

Good Transit

  • Some errands can be accomplished by public transportation.
60 /100

Very Bikeable

  • Most errands can be accomplished on bike.
72 /100
Map of 78 Geneva Street, St. Catharines
JK-8

St Nicholas Catholic Elementary School

Elementary: Catholic
0.16 km
JK-8

Edith Cavell Public School

Elementary: Public
2.01 km
JK-8

Connaught Public School

Elementary: Public
0.91 km
JK-8

ÉÉC Immaculée-Conception

Elementary: Catholic
0.09 km
JK-8

St Denis Catholic Elementary School

Elementary: Catholic
1.23 km
JK-8

Harriet Tubman Public School

Elementary: Public
0.83 km
9-12

Lifetime Learning Centre Secondary School

Secondary: Public
3.27 km
9-12

St Catharines Collegiate Institute and Vocational School

Secondary: Public
0.50 km
9-12

Laura Secord Secondary School

Secondary: Public
2.44 km
9-12

Eden High School

Secondary: Public
3.15 km
9-12

Sir Winston Churchill Secondary School

Secondary: Public
2.68 km
Pre-Grade 9-12

Denis Morris Catholic High School

Secondary: Catholic
2.80 km

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