583-585 King St
Welland, L3B 3L3
FOR SALE
$1,199,900
Sold
$1,170,000
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BEDROOMS7
BATHROOMS7
KITCHENS24
ROOMSX5880755
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Listing History
| List Date | End Date | Days Listed | List Price | Sold Price | Status |
|---|---|---|---|---|---|
| 2023-01-26 | 2023-04-27 | 90 | $1,199,900 | $1,170,000 | Sold |
| 2022-11-09 | 2023-01-26 | 78 | $1,249,900 | - | Terminated |
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Property Description
Being Offered With A $100,000 Vtb At 6.99%. This Impressive Cashflow Investment Opportunity Is Offered At A 5.7% Cap Rate. Located In Downtown Welland, This Legal Multiplex With 7 Apartments Contains 3 Two-Bedroom And 4 One-Bedroom Units With The Majority Of The Units Renovated. Offering 6 Parking Spots And Much More. This Turn-Key Multiplex Won't Last Long. Extensive Renovations Include Roof Replacement In 2019, Most Windows And Entrance Doors Replaced, Upgraded Electricals And Fire Alarms, Major Plumbing Upgrades, Main Water Line, New Meter Upgrade, 3 New Furnaces, 2 New A/C Units, Legal Conversion Of 2 Commercial Units To Residential Units Along With Additional Renovations To The Majority Of Units. This Property Is Being Sold With 583 King St.
Extras
$400,000 Spent On Renovations And Upgrades Full Interior Renovations Of 4 Apartments Flat Roof Replacement 2019 Most Windows & Doors 2020-21 Basement Fire Code Upgrade 2020-22 3 New Furnaces & Ductwork 2020-21 2 New A/C New Main Water Line
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Property Details
Street
City
Property Type
Multiplex, 2-Storey
Approximate Sq.Ft.
3500-5000
Lot Size
39' x 132'
Acreage
< .50
Lot Irregularities
Regular
Fronting
West
Taxes
$6,276 (2022)
Basement
Full, Unfinished
Exterior
Brick, Vinyl Siding
Heat Type
Forced Air
Heat Source
Gas
Air Conditioning
Central Air
Water
Municipal
Parking Spaces
6
Driveway
Lane
Garage Type
None
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