MLS# H4174285 Price: $599,900
Discover a solid investment opportunity at 129 Durham St, Port Colborne. This property offers four suites, two in the front structure and two in the back, all currently vacant, allowing you to choose your tenants and secure top-market rent near the 1% rule with a potential NOI of $50,000 upon filling vacant units. Each suite has separate meters for hydro and water, with sub-meters installed, leaving only gas expenses to the landlord. Tenants benefit from ample off-street and street parking options. Shared laundry facilities are available on-premise for added convenience. Located in an area with affordable property taxes, strong rental demand, and low vacancy rates, 129 Durham St provides a practical investment opportunity. The charming city of Port Colborne offers residents easy access to marinas, parks, and the Welland Canal, making it an appealing choice for tenants seeking a well-balanced lifestyle. Capital improvements made in 2022/2023 include a new furnace for units 3 & 4 in the back structure, new windows, roof, soffit, eavestrough, and gutters. The front structure's roof remains in excellent condition. The property is insulated and features sub-meters for hydro and water. Further cosmetic enhancements in 2022/2023 include new interior and exterior doors, contemporary kitchens, commercial-grade high-wear flooring, tile, smart thermostats, and revamped bathrooms.
Vendor take back (VTB) mortgage negotiable
Property Details: 129 Durham Street (near Welland St/Durham St )
||129 Durham Street
||Welland St/Durham St
||Port Colborne / Wainfleet (8)
||Durham St (877)
||Lease Rate Per
Room Details All dimensions are in square feet (sq ft).
Notice! Information contained herein has been obtained from sources deemed reliable. While we have no reason to doubt its accuracy we regret that we cannot guarantee it. All information subject to change and/or withdrawal without notice.