480 King Street, Welland (Lincoln/Crowland), ON L3B3K7
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Listing Type
Multi Family
Listing Status
active
39
$975,000
Home Details for 480 King Street
Price
$975,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
NaN
Parking
Days on site
87
Listing #
X12251577
Property Description
Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant one requiring only minor cosmetic updates and the other ready for a full renovation.Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys offering a compelling opportunity for future intensification in a central location.A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets. (id:31684)
Property Features
Heating Information
Hot Water
Radiant
Natural Gas
Listing Courtesy: EXP REALTY
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Median Listing Price
Median Days on Site
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Market statistics compiled from data from Canadian Real Estate Association.