6.5% CAP Rate with Upside Potential to 8.8%! Fully Occupied, Remodelled Investment Property Near Downtown St. Catharines. Rarely available multi-residential property ideally located just minutes from the thriving core of Downtown St. Catharines. Completely remodelled only *4 years ago, this fully occupied building offers contemporary finishes, minimal maintenance, and immediate cash flow with a current net income exceeding $103K and potential to surpass $139K. Property Highlights: 4 Fully Metered Units with 18 Bedrooms, 17 Bathrooms & 4 complete kitchens (all appliances included), plus onsite laundry facilities. *Month-to-month leases allow immediate opportunity to raise rents to current market value. Expansion Opportunity: Potential to add a 4-bedroom, 4-bathroom unit above the existing structure (buyer to verify). Prime Investment Location: Highly desirable downtown area ensures consistent tenant demand and low vacancy. Steps from Brock University, transit routes, hospitals, retail, restaurants, and more.Easy highway access with excellent public transportation connectivity.Investor Benefits: Stable, immediate income with proven cash flow. Modernized building infrastructure (4 separate meters, upgraded electrical). On-site parking, desirable layouts, and a solid history of occupancy. Significant room for rent increases, enhancing future profitability. Act Quickly - Exceptional, turnkey properties like this don't last long. Secure this prime St. Catharines income-producing asset and capitalize on its immediate returns and future growth! (id:36058)
| Business Type | Residential |
| Business Sub Type | Apartments |
| MLS® Number | X12326228 |
| Property Type | Multi-family |
| Community Name | 450 - E. Chester |
| Parking Space Total | 9 |
| Bathroom Total | 17 |
| Appliances | All, Dishwasher, Dryer, Water Heater, Microwave, Washer |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Electric |
| Heating Type | Forced Air |
| Size Interior | 4,651 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Size Depth | 107 Ft ,11 In |
| Size Frontage | 80 Ft ,10 In |
| Size Irregular | 80.89 X 107.99 Ft |
| Size Total Text | 80.89 X 107.99 Ft |
| Zoning Description | R3 |
https://www.realtor.ca/real-estate/28693921/32-davidson-street-st-catharines-e-chester-450-e-chester
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