220-228 WEST STREET, Port Colborne (Sugarloaf), Ontario, L3K4E3
MLS: X12996316 | Multi-Family
$1,499,000
Property Description
An exceptional opportunity to acquire a 12-unit mixed-use income property at 220-228 West Street in Port Colborne, Ontario.The asset comprises 8 residential suites (4 bachelor, 3 one-bedroom, 1 two-bedroom) and 4 ground-floor commercial units leased to established local tenants. In-place effective gross income (EGI) is approximately $120,217 and in-place net operating income (NOI) is approximately $61,546. On a stabilized basis, residential rents are projected at Canada Mortgage and Housing Corporation (CMHC) blended average rents of $1,100/month for Port Colborne, consistent with published CMHC averages of $1,082 for one-bedroom and $1,118 for two-bedroom units as of October 2025. At these assumptions, the asset supports NOI of approximately $101,663 and a cap rate of 6.78% at the asking price. Total annualized residential rent upside to the CMHC blended average is $40,272, representing a 61.65% gain on current residential rents (id:64974)
Quick Facts
- Property Type: Multi-Family
- Bedrooms: None
- Bathrooms: None
- Attached: Yes
- Parking: 12.0 spaces
- Lot Size: 13024.0000 acres (5270.63 ha)
- Frontage: 91 ft (27.7 m)
Costs
- Annual Taxes: $30,009.00
Listing Provided by: ROYAL LEPAGE SIGNATURE REALTY
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.
Detailed Features
Interior & Systems
- Heating: Baseboard heaters
- Cooling: None
Exterior & Construction
- Water: Municipal water
Lot & Land
- Lot Size: 13024.0000 acres (5270.63 ha)
- Frontage: 91 ft (27.7 m)
- Features: Irregular lot size
- Zoning: DC
Community & Neighbourhood
- Neighbourhood: 878 - Sugarloaf
Listing Information
Listing History
MLS listing activity for 220-228 WEST STREET, Port Colborne (Sugarloaf), Ontario, L3K4E3 — dates reflect when changes were recorded in the DDF
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Mortgage & Cost Calculators
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220-228 WEST STREET, Port Colborne (Sugarloaf), Ontario, L3K4E3