55 MCALPINE Ave S
Welland, L3B1T7
For Sale
$3,900,000
➧
➧
Apartment
CATEGORY0.58 Acres
TOTAL AREAX9419647
MLSIDContact Us
Property Description
23 unit building built in 1993. Comprised of 8 x 1 Bed, 15 x 2 Bed. 6.2% cap rate with full expenses for Maintenance, Super, Vacancy and Management. Currently self managed. Significant upside on current rents. Tenants pay own hydro. 30 Parking Spots. Great location close to all amenities.
Call
Property Details
Category
Apartment
Usage
Apts-Over 20 Units
Zoning
Rm4
Total Area
0.58 Acres
Lot Size
90' x 238'
Taxes
$42,296 (2024)
Call
Listing contracted with Mysak Realty Inc.
Similar Listings
A unique opportunity in the heart of Welland, it's a gem waiting to be polished! Buy and Hold or develop (a proposed 10-storey 149 unit purpose built apartment building)! Sitting just shy of an acre, this property is nestled within walking distance to parks, public transportation, amenities and critical public infrastructure. The mixed use site offers a multitude of avenues to maintain, stabilize or increase income streams for its future owner. Property is not leased to max capacity providing an opportunity to update/reno suites and bring in tenants at increased rental rates. The proximity to Welland County General Hospital provides an incredible opportunity to take advantage of the mixed use zoning, (INSH) Institutional Services & Health, allowing investors to potentially provide needed commercial services to the public in the area. Lots of upside with this property from multiple angles.
Call
Call