480 King ST new Save Request In-Person Tour Request Virtual Tour
Welland,ON L3B 3K7
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 15,823 sqft
Price per Sqft $61
Subdivision 773 - Lincoln/Crowland
MLS Listing ID X12251577
Annual Tax Amount $3,806
Tax Year 2024
Property Sub-Type Investment
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.
Location
State ON
County Niagara
Community 773 - Lincoln/Crowland
Area Niagara
Zoning INSH
Interior
Cooling No
Inclusions Four Fridges, Four Stoves, Four Washers, Four Dryers
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot