Salehian.com 647-325-5000

22 & 24 RIVER STREET

Port Robinson, Thorold, L0S1K0

Listed by RE/MAX SUCCESS REALTY

$999,000

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  • 16 bedrooms
  • 9 bathrooms
  • 9 parking

Listed 189 days ago · MLS® X13002648

About this home

FINAL REDUCTION VENDOR MUST SELL!! 9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/999000= 6.1% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/999,000=13.8% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage for $600,000 for 2 years at 4.5% Won't Last Long!! Below the AVM amount. (id:66966)

Details

Type
Multi-family
Basement
Apartment in basement, N/A
Garage
Garage
Property tax
$9,463 (2025)
Neighbourhood
Port Robinson
Municipality
Thorold (Port Robinson)

Interior

Bedrooms
16 above ground
Fireplace
Yes
Appliances
Water meter

Heating, cooling and services

Heating
Baseboard heaters, Forced air, Electric
Air conditioning
Window air conditioner

Building and exterior

Foundation
Concrete
Outdoor
Concrete, Vinyl siding

Parking

Total parking
9
Driveway and parking
No Garage

Location

Location is approximate. See nearby homes on the map

Listed by RE/MAX SUCCESS REALTY.

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