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    For Sale - 22 & 24 River Street, Thorold, Ontario

    Est payment $6,699/mo
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    Time on Jump  3 day

    AI Summary *

    • Rare 9-unit investment property located in Port Robinson near the Welland Canal.
    • 7 of 9 units have recently been updated for better rental appeal.
    • Solid rental income potential with most units having separate hydro meters.
    • Residential license valid until February 2028 adds stability to ownership.
    • Good opportunity in a low-supply market for multi-residential properties.




    This rare 9-unit multi-residential investment property in thorold offers a storybook setting at 22 & 24 river street which are located in the historic hamlet of port robinson, situated on the east bank of the welland canal. 7 out of 9 units have been updated and consists of 1-3 bedroom $1500*. 5-2 bedrooms,$1450. ,$1300, $1290, $950, & $630 (live-in super) $1450 will be the new rental price of the one vacant unit. 2-1 bedrooms $1150, $935** 1 bachelor $950. Coin laundry $2500 income yr. 8 out of 9 units pay their own hydro being separately metered! Residential license for both properties til feb 2028! 1/2 roof was replaced in 2024 bills to be provided, 2-natural gas furnaces which cover 2 units the owner pays for. (3) water rental tanks $1750, gas $2300, water $1500, hydro $2800, maintenance is around $2500. Insurance $6350. Property valued at $155,000 per unit, based on 32 and 34 river street selling at $162,500 given it was a newer property just a couple of months ago, on the same street same location. Most recent 8 unit property sold for over $220,000 per door! Less than 1 % of properties in thorold are multi-residential . So this is a good opportunity to own this 9-plex at a fantastic price. Pre-inspection report will be attached on friday april 17th, by a certified master inspector. Thank you
    Listing IDX13002648
    Address22 & 24 River Street
    CityThorold, Ontario
    Price$1,395,000
    Bed / Bath16 / 9 Full
    Style2-Storey, Multiplex
    ConstructionConcrete, Vinyl Siding
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features Floor Drain, Separate Hydro Meter, Water Meter, Sump PumpAmenities Campground, Greenbelt/Conservation, Hospital, Park, Place Of Worship, River/StreamOwnership FreeholdBasement ApartmentFoundation ConcreteHeating / Cooling BaseboardHeating Fuel ElectricSewer None

    Parking 7.00
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    Listing Agency:  RE/MAX SUCCESS REALTY

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

    Hospital
    Parks
    Schools
    Place of Worship
    Please select an amenity above to view a list.

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    22 & 24 River Street
    Thorold , Ontario
    16 9 $1,395,000
    Get more info