+32 more
3
Bedrooms
3
Bathrooms
1,586 sqft
Living Area
2
Parking
About This Property
This 3-bedroom, 3-bathroom multi-family in Welland offers 1,586 sqft of living area. 2 storeys. The property has lot dimensions of 40 x 99.4 FT. The home features forced air heating, a unfinished, full basement.
MLS Remarks
Three Self-Contained Units Offering Strong Income Potential With An Added Opportunity To Acquire A Rare Severed Side Lot For Additional Future Development If Desired. This Property Is Ideal For Investors Looking To Expand Their Portfolio Or Buyers Seeking A House Hack Opportunity While Benefiting From Long-Term Upside. Unit 1 Is Located On The Front Ground Floor And Was Fully Renovated In 2020 With A Modern Kitchen, Updated Bathroom, And New Flooring, Currently Rented At $1,100/Month + 33% Utilities. Unit 2 Located On The Second Floor Was Refreshed In 2021 With Updated Flooring And Vanity And Is Currently Vacant, Providing An Excellent Opportunity To Set Market Rent Or Move In. Unit 3 The Rear Ground Floor Unit Provides Stable All-Inclusive Income At $1,100/Month. Tenants Are Excellent And On Month-To-Month Leases, Offering Flexibility To Optimize Rents Over Time. Key Updates Include Shingles (2016), Windows, Electrical Wiring, And Portions Of The Plumbing. As An Added Bonus, A Separately Severed Side Lot Is Available With Concept Plans Showing Potential For A Triplex Or Sixplex Development , Creating A Unique Opportunity For Those Looking To Combine Immediate Cash Flow With Future Growth. (id:60351)
Generated Content
draftLocated at 26 Albina in Welland, Ontario, this multi-family residential property offers a compelling investment opportunity with strong income potential through three self-contained units. Each unit is designed to maximize rental income and tenant satisfaction. Unit 1 features modern updates from its full renovation in 2020, including a contemporary kitchen and bathroom, and is currently rented for $1,100 per month plus utilities. Unit 2, refreshed with new flooring and vanity in 2021, stands vacant, presenting an ideal situation to set market rent or for potential owner occupancy. Unit 3 provides consistent income at $1,100 per month on a flexible month-to-month lease arrangement. The property benefits from recent key updates such as shingles (2016) and new windows and electrical wiring. Additionally, the separately severed side lot offers an intriguing future development opportunity for those interested in expanding their portfolio with potential triplex or sixplex development options (buyer to complete due diligence).
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