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

    Est payment $4,797/mo
    Get pre-qualified
    Views   3
    Time on Jump  177 day

    AI Summary *

    • 9 unit investment property generating $121,860 in gross revenue annually.
    • Opportunity to increase revenue to $198,000 by raising rents to market prices.
    • Located in a low-density area with scenic views of the Welland Canal.
    • Long-standing tenants provide stability with potential for increased rental income.
    • Owner willing to hold a first mortgage, offering flexible financing options.




    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.
    Listing IDX13002648
    Address22 & 24 River Street
    CityThorold, Ontario
    Price$999,000
    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

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    Listing Brokerage: 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 $999,000
    Get more info