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Impressive Cashflow Investment Opportunity Offered At 5.5% Cap Rate. Located In Downtown Welland, This Legal Multiplex With 7 Apartments Contains 3 Two-Bedroom And 4 One-Bedroom Units With The Majority Of The Units Renovated. Offering 6 Parking Spots And Much More. This Turn-Key Multiplex Won't Last Long. Extensive Renovations Include Roof Replacement In 2019, Most Windows And Entrance Doors Replaced, Upgraded Electricals And Fire Alarms, Major Plumbing Upgrades, Main Water Line, And New Meter Upgrade, 3 New Furnaces, 2 New A/C Units, Legal Conversion Of 2 Commercial Units To Residential Units Along With Additional Renovations To The Majority Of Units.**** EXTRAS **** $400,000 Spent On Renovations And Upgrades Full Interior Renovations Of 4 Apartments Flat Roof Replacement 2019 Most Windows & Doors 2020-21 Basement Fire Code Upgrade 2020-22 3 New Furnaces & Ductwork 2020-21 2 New A/C New Main Water Line (id:24093)
Listed by AFSHIN NABAVI of TESA REAL ESTATE INC.

Property Details of 583-585 King Street

Property Details

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"Based on information submitted to CREA as of December 2, 2022 . 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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