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

    Est payment $5,402/mo
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    Views   3
    Time on Jump  128 day

    AI Summary *

    • Rare 9-unit investment property with strong annual income potential.
    • Most units are updated and 8 pay their own hydro.
    • Prime location by the Welland Canal with scenic views.
    • Ample parking space for 9 vehicles with new gravel drive.
    • Flexible financing options available with motivated seller.




    9 unit multi residential investment property producing annually $121,860 gross revenue, expenses $61,000 with return on investment at 61,000/1125000= 6. 4% currently. Great potential to produce $198,000 in gross revenue less $61,000 expenses having a return on investment at 137,000/1,125,000=12. 2% 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 mortgage with a reasonable down payment for 2 years at 4. 5%
    Listing IDX13002648
    Address22 & 24 River Street
    CityThorold, Ontario
    Price$1,125,000
    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 9.00
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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 $1,125,000
    Get more info