22 River St, Port Robinson, ON

House

For Sale

Listed price in listed location currency (CAD).

$999,000

1690

MLS® X13002648

Overview

Key Facts

Type Multi Family

Levels Residential

Size -

Garage None

Taxes $9,463

Days Active 154

Lot Size

Approx. Age

MLS® Number X13002648

Property Address: 22 River St, Port Robinson, ON, L0S1C0

Average square foot calculated using Size range provided by listing agent.

Description

FINAL REDUCTION VENDOR MUST SELL!! 9 Unit Multi Residential Investment property producing annually $121, 860 Gross Revenue, expenses $61, 000 with Return on investment at 61, 000/1125000= 6.4% currently. Great potential to produce $198, 000 in Gross Revenue less $61, 000 expenses having a return on Investment at 137, 000/1, 125, 000=12.2% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage for $600, 000 for 2 years at 4.5% Won't Last Long!!

MLS® NumberX13002648

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageNone

Approx. Age

BasementApartment

DrivewayGarage Type:None

Garage Spaces

HeatElectric, Baseboard

A/CWindow Unit(s)

Extras

Map

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