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Welland,ON L3C 5T9
Key Details
Property Type Single Family Home
Sub Type Detached
Listing Status Active
Purchase Type For Sale
Square Footage 1,800 sqft
Price per Sqft $499
MLS Listing ID 40770101
Style Sidesplit
Bedrooms 9
Full Baths 2
Abv Grd Liv Area 1,800
Annual Tax Amount $5,500
Property Sub-Type Detached
Source Cornerstone
Property Description
Excellent investment opportunity in the City of Welland! This property currently generates $5,700/month in rental income from an existing 9-bedroom home, offering strong cashflow from day one. The site also benefits from Welland's latest zoning amendment, which permits up to 4 residential units on a single lot. With potential severance, this property can support development of up to 8 units in total (4 per lot), subject to standard municipal approvals plus additional units in addition to 8 units if the developer proposes to apply for approval for more units Secure steady income now while unlocking significant future development potential in one of Niagara's fastest-growing rental markets.
Location
Province ON
County Niagara
Area Welland
Zoning RL1, RL2
Direction FIRST AVE/ WOODLAWN
Rooms
Basement Full,Finished
Main Level Bedrooms 3
Bedroom 2 3
Kitchen 2
Interior
Interior Features Other
Heating Forced Air,Natural Gas
Cooling Central Air
Fireplace No
Appliance Dryer,Range Hood,Refrigerator,Stove,Washer
Exterior
Parking Features Attached Garage
Garage Spaces 1.0
Roof Type Asphalt Shing
Lot Frontage 55.0
Lot Depth 137.5
Garage Yes
Building
Lot Description Urban,Schools
Faces FIRST AVE/ WOODLAWN
Foundation Poured Concrete
Sewer Sewer (Municipal)
Water Municipal
Architectural Style Sidesplit
Structure Type Brick
New Construction No
Others
Senior Community No
Tax ID 640740468
Ownership Freehold/None