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$ 1,395,000
Est. payment /mo
New
22 & 24 RIVER STREET Thorold (port Robinson), ON L0S1K0
16 Beds
9 Baths
5,000 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 - 100000
Square Footage 5,000 sqft
Price per Sqft $279
Subdivision 561 - Port Robinson
MLS® Listing ID X13002648
Bedrooms 16
Property Description
This Rare 9-Unit Multi-Residential Investment property in Thorold offers a storybook setting at 22 & 24 River Street which is located in the historic hamlet of Port Robinson, situated on the east bank of the Welland Canal. 2nd Floor tenants in the front enjoy a view of the Canal as the ships go by. 7 out of 9 Units have been updated . Rental prices consists of (1) -3 Bedroom $1500*. (5)-2 Bedrooms,$1450. ,$1300, $1290, $950, & $630 (Live-In Super) $1450 will be the new rental price of the one vacant unit. (2)-1 Bedrooms $1150, $935** (1) Bachelor $950.Yearly Rental income for 2025 $91,060 including vacancy. Net Operating Expenses $60,000. Coin Laundry $2500 income Yr. 8 out of 9 units pay their own Hydro being separately metered! Residential License for both Properties til Feb 2028! 1/2 Roof was replaced in 2024 Bills included other half is in descent condition. There are 2-Natural Gas furnaces which cover 2 units the Seller pays for. Expenses : (3) Water Rental Tanks Rentals $1750 yearly, Gas $2300, Water $1500, Hydro $2800, Maintenance is around $2500 .Insurance $6350. Property Valued at $155,000 per Unit x 9 units, based on 32 and 34 River Street selling at $162,500 given it was a newer property just a couple of months ago, on the same street 2 doors away. Less than 1 % of properties in Thorold are multi-residential . So this is a good opportunity to own this 9-Unit investment property at a fantastic price. Seller is willing to Take Back Financing with 20% Down payment !!! Inspection Report will be available monday April 20th, by a Certified Master Inspector. Thank you (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters, Forced air, Not known
Cooling Window air conditioner
Exterior
Parking Features No
Fence Partially fenced
View Y/N No
Attached Garage No
Total Parking Spaces 9
Garage No
Private Pool No
Building
Story 2
Others
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Listed by RE/MAX SUCCESS REALTY
NEARBY SCHOOLS & PROPERTIES