42
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$940,000
Est. payment /mo
10 Beds
1 Bath
9,645 Acres Lot
New
5749 SUMMER STREET Niagara Falls (hospital), ON L2G1M5
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Subdivision 215 - Hospital
MLS® Listing ID X13233040
Bedrooms 10
Lot Size 9645.000 Acres
Acres 9645.0
Property Description
Legal Non-Conforming 4-Plex + In-Law Suite | Prime Investment Opportunity. Fantastic income property featuring 5 x 2-bedroom units, including a lower-level 2-bedroom in-law suite with separate entrance. Set on a large 60.14 x 160.75 ft lot, this turnkey building includes a detached double garage, concrete driveway, and parking for all units. Four units have been recently renovated with approx $240,000 in upgrades, plus a brand-new coin-operated laundry room (2024). Additional updates include breaker panels, windows and doors, basement waterproofing, roofs (2011), boiler (2012), and bathroom upgrades throughout several units. Gross annual income approximately $97,686 with a desirable cap rate exceeding 8%. Ideally located just steps from the hospital, public transit, shopping, and other amenities in a rapidly evolving area of Niagara Falls. Potential Land Assembly Opportunity: The adjacent corner parcel is also currently available for purchase (sold separately), offering purchasers the opportunity to explore a potential land assembly and larger combined site footprint. Whether maintaining the existing income-producing assets or investigating future redevelopment possibilities, buyers are encouraged to complete their own due diligence regarding zoning, permitted uses, redevelopment potential, and municipal requirements. A rare opportunity to acquire a high-performing income property with immediate cash flow, significant recent capital improvements, and potential long-term upside in one of Niagara Falls' growing neighbourhoods. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling None
Exterior
Parking Features No
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage No
Private Pool No
Listed by Royal LePage Our Neighbourhood Realty