664 KING STREET, Port Colborne (Main Street), Ontario, L3K4H8

Property Description

This newly built triplex presents an outstanding investment opportunity with strong cash flow, a favourable unit mix, and turnkey construction quality. Offering a 6.00% cap rate on entry based on conservative underwriting, the property features three spacious and well-designed units, including a premium three-bedroom, two-storey main suite with high-end finishes, contemporary design, and an impressive ~600 sq. ft. primary bedroom complete with a walk-in closet and ensuite bathrooms. The two additional units-a below-grade suite and a side-entry unit-provide functional layouts and broad rental appeal, with all units equipped with in-suite air conditioning and laundry. The property includes ample on-site parking, accommodating more than two vehicles per unit with additional space for larger vehicles or storage. Utilities are allocated through an equal-billing structure, with the main unit responsible for 50%, the side unit 30%, and the basement unit 20%, creating predictable operating costs. The asset is currently operated as an Airbnb, offering added income potential where permitted. This triplex is one half of a two-building portfolio, sharing an adjoining wall with a matching triplex next door, allowing investors the opportunity to scale with a complementary asset. Turnkey, modern, and income-producing, this is a rare chance to secure a high-quality new-build investment in a strong rental market. (id:64974)

Quick Facts

• Property Type: Multi-Family
• Bedrooms: None
• Bathrooms: None
• Living Area: 3,907 sq ft (363.0 m²)
• Attached: Yes
• Frontage: 61 ft (18.5 m)

Costs

• Annual Taxes: $7,578.00

Listing Provided by: EXP REALTY
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.