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$ 975,000
Est. payment /mo
Active
480 KING Street Welland, ON L3B3K7
3,900 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 3,900 sqft
Price per Sqft $250
Subdivision 773 - Lincoln/Crowland
MLS® Listing ID 40746082
Property Sub-Type Freehold
Source Barrie & District Association of REALTORS® Inc.
Property Description
Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant—one requiring only minor cosmetic updates and the other ready for a full renovation. Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys—offering a compelling opportunity for future intensification in a central location. A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling None
Exterior
Parking Features No
Community Features Community Centre
View Y/N No
Total Parking Spaces 10
Private Pool No
Building
Story 2
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by EXP Realty Brokerage