250 GRANTHAM Avenue, St. Catharines, Ontario, L2M4Z5

Property Description

Rare opportunity to purchase a FULLY LEGAL, TURN-KEY THREE UNIT property with excellent cash flow potential. The home is attractive to investors looking to add to their portfolio or for buyers looking for a house hack opportunity where they live in one unit and rent out the others. Two of the three units will be vacant as of May 1st, allowing you to set market rent and choose your tenants. All three of the units are well-maintained and offer functional layouts, in-suite laundry, full kitchens separate hydro and large windows that make the spaces bright and inviting. >> MAIN FLOOR UNIT (#1) - Currently occupied at $1,995 + hydro. Spacious 3 bedroom, 1 4PC bath unit with updated kitchen appliances and vinyl flooring installed throughout in 2023 (*carpets have just been laid over top by tenant to protect floors). >> BACK UNIT (#2) - Vacant May 1st. Rented @ $1,645 + Hydro. 1 bedroom, 1 3PC bath with private basement rec-room and storage area. >> BASEMENT UNIT (#3) - Vacant. Previously rented for $1,575 + Hydro. Inviting 1 bedroom, 1 4PC bath. Additional income includes $50/month mailbox rental. As an added bonus, the home sits on a generous 172 ft deep lot with double wide concrete driveway accommodating up to 6 vehicles. All legal unit work was completed in 2021 through a thorough renovation process that was permitted and inspected by the city of St. Catharines. Recent updates include: Separate hydro and electrical upgrades throughout (2021). Sonopan soundproofing between units & subfloor in unit #1 (2023). Double-layer fire-rated drywall in basement ceiling (2021). Attic spray foam insulation (2023). Sump Pump (2023). New Vinyl Plank floors in unit #1 (2023). Exterior Paint (2023). Windows in unit #1 (2023). Various plumbing upgrades (2021 & 2023). Located within walking distance to transit, parks, and daily amenities. RSA* (id:64974)

Quick Facts

• Property Type: Triplex (Freehold)
• Bedrooms: 5
• Bathrooms: 3
• Living Area: 3,004 sq ft (279.1 m²)
• Above Grade: 1,530 sq ft (142.1 m²)
• Below Grade: 1,474 sq ft (136.9 m²)
• Year Built: 1957
• Ownership: Freehold
• Attached: Yes
• Parking: 6.0 spaces
• Frontage: 64 ft (19.5 m)

Costs

• Annual Taxes: $5,093.92

Listing Provided by: Rock Star Real Estate Inc.
Board: Cornerstone Association of REALTORS®
Data provided via CREA DDF®.