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$ 999,000
Est. payment /mo
Price Dropped by $126K
22 & 24 RIVER STREET Thorold (port Robinson), ON L0S1K0
16 Beds
9 Baths
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 - 100000
Subdivision 561 - Port Robinson
MLS® Listing ID X13002648
Bedrooms 16
Property Description
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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Forced air,
Cooling Window air conditioner
Exterior
Parking Features No
Fence Partially fenced
View Y/N No
Attached Garage No
Total Parking Spaces 9
Garage No
Private Pool No
Building
Story 2
Others
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