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$949,850
Available - For Sale
Listing ID: X12060579
Calling all savvy investors!! 5-Plex with ability to add more units or use the existing autoshop with hoist!! Potential 6.28% cap rate if tenant leases the autoshop, office and basement. Could also use rental income from residential units to have a free autoshop and make a very lucrative business. Entire building has a metal roof so no up-keep needed. Shop can easily be turned into 3 more units at least or can add revenue by renting out as a shop with office space and a two piece bathroom. Current 5 unit apartment building with spacious apartments and mostly renovated throughout. All 6 Hot water heaters are owned and replaced in 2022. Room measurements for all units available upon request. No interior photos of units as per tenants request. Each unit is spacious and offers nice floor plan with high ceilings on main floor. Individually metered units for Hydro, Coin Laundry on Site. All units have own panel box in their units. Building also offers interconnected smoke alarms in common areas. Basement is very large and was waterproofed from the inside fully by Wisecracks 2010, and offers potential for personal use or can add additional storage lockers to tenants for an additional income stream or rent out basement separately for storage and add to the NOI (Net Operating Income). Showings will only be Wednesday from 11 - 7 and Saturday 12 - 5 with listing agent present.
Price $949,850
Taxes: $6,308.31
Tax Type: Annual
Assessment Year: 2025
Occupancy by: Tenant
Address: 192 BURGAR Stre , Welland, L3B 2T4, Niagara
Postal Code: L3B 2T4
Province/State: Niagara
Legal Description: PT BLK Y PL 564 AS IN RO711989 ; WELLAND
Directions/Cross Streets: Corner of Hagar St and Burgar St.
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Category: Apartment
Use: Apts - 2 To 5 Units
Building Percentage: T
Total Area: 6,536
Total Area Code:  Square Feet
Area Influences: Public Transit  
Financial Statement: T
Chattels: T
Franchise: F
Maintenance: 0
Water Expense: $3403
Net Income Before Debt: $59625
Expenses Actual/Estimated: $Est
Heat Type: Radiant
Central Air Conditioning: Partial
Sewers: Sanitary+Storm
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ROYAL LEPAGE NRC REALTY

192 BURGAR Stre , Welland, L3B 2T4, Niagara

Personal Picture
Arash Salehrad
Broker
Dir:
(647)402-5949
Bus:
(905)508-9500
Fax:
(905)773-3861

 
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At a Glance:
Type: Com - Investment
Area: Niagara
Municipality: Welland
Neighbourhood: 768 - Welland Downtown
Style:
Lot Size: x 155.00(Feet)
Approximate Age:
Tax: $6,308.31
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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Personal Pic Arash Salehrad Broker pic arashsalehrad@gmail.com RE/MAX REALTRON REALTY INC., Brokerage Independently owned and operated. pic 13321 Yonge St., Unit 203, Richmond Hill, Ontario L4E 3L3 pic Office: (905)508-9500 | Fax: (905)773-3861 | Cell: (647)402-5949