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    Presenting a mixed-use multi-unit property with huge potential, this solid commercial/residential building is ideally situated in the dynamic heart of Welland, directly across from the upcoming Linamar's Giga Casting Factory development. This project, poised to create approximately 200 new jobs, promises a substantial boost to the local economy. Diverse income sources: 4 residential apartments, 2 commercial units, plus a garage. 165 ft Deep Lot giving the opportunity to expand with 4 more apartments (drawings available). Current Net Income: $84,789 with a 6.5% Cap Rate. Potential Cap Rate growth to 9.2% Each floor spans 4,000 sq. ft. Residential mix: 3 two-bedroom and 1 three-bedroom apartments. Comprehensive renovations completed in 2016. Roof updated in 2017. Proximity to Welland Canal, local hospital, bus routes, shopping centers, and essential amenities. Easy access to major highways. Located in one of Niagara's fastest-growing areas, surrounded by significant residential (Empire Canals) and commercial developments (Linamar's Giga Casting Factory). Don't miss the chance to capitalize on this promising investment in Niagara. Information Brochure is attached to the Listing. (id:24093)
    Listed by ROBBY PRUTHI of COSMOPOLITAN REALTY

    Property Details of 35 Ontario Road

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    "Based on information submitted to CREA as of February 22, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or CREA.  All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing."

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