22 & 24 River Street

Thorold, ONMulti-family
$999,000
MLS® X13002648
Multi-family16 beds9 baths9 total
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About This Property

FINAL REDUCTION VENDOR MUST SELL!! 9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/999000= 6.1% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/999,000=13.8% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage for $600,000 for 2 years at 4.5% Won't Last Long!! Below the AVM amount. (id:63604)

Key Facts

Type
Multi-family
Beds
16
Baths
9
Size
5,000 sqft
Lot
89.4 x 159.7 FT
Parking
9 total

Highlights

  • Water meter
Property Details 15 details
Bedrooms
16 bedrooms
16 above grade
Bathrooms
9 bathrooms
Parking
9 parking spaces
No Garage
Living area
5,000 - 100,000 sq. ft.
Property
Multi-family
Property subtype
Multi-family
Structure type
Other
Storeys
2
Basement
Apartment in basement
Heating
Baseboard heaters, Forced air, Electric
Cooling
Window air conditioner
Fireplace
Yes
Lot dimensions
89.4 x 159.7 FT
Frontage
89.40 feet
Taxes
$9,463.00 (2,025)
Water source
Municipal water

Interior features

Water meterSeparate Electricity Meters

Exterior features

ConcreteVinyl sidingPartially fenced

Systems and association

SewerElectricityCable

Lot and water

Conservation/green beltSump Pump

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Mortgage & Affordability Estimate monthly costs
Mortgage Tools Buyer/Seller Snapshot
Purchase price$999,000
Down paymentNot available
Mortgage amountNot available
Principal & interestNot available
Property taxesNot available
Condo/HOA feeNot available
Insurance/OtherNot available
UtilitiesNot available
Est. monthly totalNot available
Income needed (GDS 32%)Not available
Estimates only. Not financial advice. Rates, taxes and fees vary by lender and municipality.

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Neighbourhood

Area
Port Robinson
City
Thorold
Postal code
L0S 1K0
Nearby
Cross Streets: Bridge Street and River Street. ** Directions: 403 to Queen Elizabeth way to 406 to 58 to 82 into Port Robinson.
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