FARHANG RAFII
Sales Representative
$975,000
Available - For Sale
Listing ID: X12251578
480 King Stre , Welland, L3B 3K7, Niagara
| Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant one requiring only minor cosmetic updates and the other ready for a full renovation.Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys offering a compelling opportunity for future intensification in a central location.A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets. |
| Price | $975,000 |
| Taxes: | $3806.00 |
| Assessment Year: | 2024 |
| Occupancy: | Tenant |
| Address: | 480 King Stre , Welland, L3B 3K7, Niagara |
| Directions/Cross Streets: | King St/Third St |
| Rooms: | 32 |
| Bedrooms: | 12 |
| Bedrooms +: | 0 |
| Family Room: | T |
| Basement: | Partial Base |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 4 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Total Area: | 0.00 |
| Property Type: | Fourplex |
| Style: | 2-Storey |
| Exterior: | Stucco (Plaster) |
| Garage Type: | None |
| Drive Parking Spaces: | 10 |
| Pool: | None |
| Approximatly Square Footage: | 3500-5000 |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | Y |
| Heat Type: | Baseboard |
| Central Air Conditioning: | None |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Sewers: | Sewer |
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FARHANG RAFII
Sales Representative
Dir:
647-606-4145
Bus:
416-364-4776
Fax:
416-364-5556
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Freehold - Fourplex |
| Area: | Niagara |
| Municipality: | Welland |
| Neighbourhood: | 773 - Lincoln/Crowland |
| Style: | 2-Storey |
| Tax: | $3,806 |
| Beds: | 12 |
| Baths: | 4 |
| Fireplace: | Y |
| Pool: | None |
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