5749 Summer Street,Niagara Falls (Hospital), ON L2G1M5
Niagara Falls (Hospital), ON L2G1M5
Description
Legal Non-Conforming 4-Plex + In-Law Suite | Prime Investment Opportunity. Fantastic income property featuring 5 x 2-bedroom units, including a lower-level 2-bedroom in-law suite with separate entrance. Set on a large 60.14 x 160.75 ft lot, this turnkey building includes a detached double garage, concrete driveway, and parking for all units. Four units have been recently renovated with approx $240,000 in upgrades, plus a brand-new coin-operated laundry room (2024). Additional updates include breaker panels, windows and doors, basement waterproofing, roofs (2011), boiler (2012), and bathroom upgrades throughout several units. Gross annual income approximately $97,686 with a desirable cap rate exceeding 8%. Ideally located just steps from the hospital, public transit, shopping, and other amenities in a rapidly evolving area of Niagara Falls. Whether maintaining the existing income-producing assets or investigating future redevelopment possibilities, buyers are encouraged to complete their own due diligence regarding zoning, permitted uses, redevelopment potential, and municipal requirements. A rare opportunity to acquire a high-performing income property with immediate cash flow, significant recent capital improvements, and potential long-term upside in one of Niagara Falls' growing neighbourhoods. (id:13843)
Details
| MLS # | X13233040 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 147 |
| Listing Provided By | Royal LePage Our Neighbourhood Realty | TARA HUSSEIN |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 1 Total |
| Zoning | R2 |
| Acreage | 9645.00 |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Fireplace Yes / No | No |
Parking
| Parking Total | 4 |
|---|
Utilities
| Water Source | Municipal water |
|---|
Taxes
| Tax Annual Amount | 4788.28 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Niagara Falls (Hospital) |
| Postal Code | L2G1M5 |
| Listing VS Median (in L2G1M5) | |
Price: $940,000 low | high Med: $1,830 On site: 147 low | high Med: 20 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Niagara Falls (Hospital) |
| Postal Code | L2G1M5 |
| Listing VS Median (in L2G1M5) | |
Price: $940,000 low | high Med: $1,830 On site: 147 low | high Med: 20 | |
