192 BURGAR STREET, Welland (Welland Downtown), Ontario, L3B2T4

Property Description

PHASE ONE ENVIRONMENTAL FULL REPORT AVAILABLE. (SUMMARY IN ATTACHMENTS) NO FURTHER INVESTIGATION REQUIRED SO GOOD TO GO FOR FINANCING!!! Calling all savvy investors!! 5-Plex with ability to add more units or use the existing autoshop with hoist!! Now with a potential 6.80% cap rate if tenant leases the autoshop or woodshop for only $1500.00 a month, office and basement. Could also use rental income from residential units to have a free autoshop and make a very lucrative business. Entire building has a metal roof so no up-keep needed. Shop can easily be turned into 3 more units at least or can add revenue by renting out as a shop with office space and a two piece bathroom. Current 5 unit apartment building with spacious apartments and mostly renovated throughout. All 6 Hot water heaters are owned and replaced in 2022. Room measurements for all units available upon request. No interior photos of units as per tenants request. Each unit is spacious and offers nice floor plan with high ceilings on main floor. Individually metered units for Hydro, Coin Laundry on Site. All units have own panel box in their units. Building also offers interconnected smoke alarms in common areas. Basement is very large and was waterproofed from the inside fully by Wisecracks 2010, and offers potential for personal use or can add additional storage lockers to tenants for an additional income stream or rent out basement separately for storage and add to the NOI (Net Operating Income). Showings will only be Wednesday from 11 - 7 and Saturday 12 - 5 with listing agent present. (id:64974)

Quick Facts

• Property Type: Multi-Family
• Bedrooms: 6
• Bathrooms: None
• Living Area: 6,536 sq ft (607.2 m²)
• Attached: Yes
• Parking: 5 spaces
• Frontage: 46 ft (14 m)

Costs

• Annual Taxes: $6,827.00 (2025)

Listing Provided by: ROYAL LEPAGE NRC REALTY
Board: Niagara Association of REALTORS®
Data provided via CREA DDF®.