15 Wellington Street St. Catharines, Ontario L2R 5P7
$1,295,000
Prime investment opportunity in the heart of downtown St. Catharines. This 18-room rental property spans a total gross floor area of +/-6651 sq.ft (618 sqm). Currently rented at $500 - $875 per room, with potential to add another room, this building offers a robust income stream with multiple opportunities for optimization.\r\nThe property is equipped with fibre optic internet infrastructure, providing reliable, hardwired connections to every bedroom. Security features include trackable key card and punch code entry at each exterior door, with locked doors for every bedroom. Located only 900 meters from the St. Catharines bus terminal (a 12-minute walk), the property is situated in a highly walkable neighborhood close to various amenities.\r\nBuilding construction is resilient to damage, ensuring minimal maintenance and straightforward property management. There are significant opportunities to enhance net operating income through streamlined operations, tenant demographic adjustments, and other efficiencies.\r\nProperty includes full kitchen and laundry facilities on each floor. The upper level features 10 bedrooms, 3 full baths, 1 individual shower, and 1 half bath. The lower level houses 8 bedrooms with potential for a 9th, along with 3 individual showers and 3 half baths. (id:58770)
Property Details
| MLS® Number | X9411911 |
| Property Type | Business |
| Community Name | 451 - Downtown |
| AmenitiesNearBy | Public Transit |
| Features | Laundry- Coin Operated |
| ParkingSpaceTotal | 3 |
Building
| BathroomTotal | 7 |
| Appliances | Dryer, Microwave, Refrigerator, Two Stoves, Two Washers, Window Coverings |
| BasementDevelopment | Finished |
| BasementType | Full (finished) |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Concrete |
| FoundationType | Block |
| HeatingFuel | Natural Gas |
| HeatingType | Radiant Heat |
| SizeInterior | 6650 Sqft |
| UtilityWater | Municipal Water |
Land
| Acreage | No |
| LandAmenities | Public Transit |
| Sewer | Sanitary Sewer |
| SizeIrregular | Unit=39.99 X 100 Acre |
| SizeTotalText | Unit=39.99 X 100 Acre|under 1/2 Acre |
| ZoningDescription | C1-93 |
Interested?
Contact us for more information
Todd Crawford
Broker
82 Lake Street, Unit 200
St. Catharines, Ontario L2R 5X4
Todd Garvie
Salesperson
105 Merritt Street
St. Catharines, Ontario L2T 1J7
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November 13 2024 03:48:21
Niagara Association of REALTORS®
Colliers International Niagara Ltd., Revel Realty Inc., Brokerage