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Welland,ON L3B 3K7
Key Details
Property Type Multi-Family
Sub Type Multi-4 Unit
Listing Status Active
Purchase Type For Sale
Square Footage 3,900 sqft
Price per Sqft $250
MLS Listing ID 40746082
Abv Grd Liv Area 3,900
Annual Tax Amount $3,806
Property Sub-Type Multi-4 Unit
Source Barrie
Property Description
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.
Location
Province ON
County Niagara
Area Welland
Zoning INSH
Direction NE cornger of King St and Third St
Rooms
Basement Partial,Unfinished
Kitchen 0
Interior
Interior Features None
Heating Baseboard
Cooling None
Fireplace No
Laundry In-Suite
Exterior
Roof Type Asphalt Shing
Lot Frontage 110.57
Lot Depth 130.0
Garage No
Building
Lot Description Hospital,Playground Nearby,Rec./Community Centre,Schools
Faces NE cornger of King St and Third St
Story 2
Sewer Sewer (Municipal)
Water Municipal
Structure Type Stucco
New Construction No
Others
Senior Community No
Tax ID 641210107
Ownership Freehold/None