REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 549,000
Est. payment /mo
Price Dropped by $20K
23 AVENUE Place Welland, ON L3B4B2
5 Beds
3 Baths
2,821 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 2,821 sqft
Price per Sqft $194
Subdivision 768 - Welland Downtown
MLS® Listing ID 40730627
Bedrooms 5
Property Sub-Type Freehold
Source Cornerstone Association of REALTORS®
Property Description
Legal Triplex! Located downtown Welland, a well maintained home and ready to be leased. The units are vacant and when rented it makes an exceptional cash flow positive investment. When it was rented in 2024, the property was grossing $56,700.00 annually and is now offered at a 7% cap rate. Unit 1 (2-beds) was renting for $1,750, Unit 2 (3-beds) for $1,650.00, and unit 3 (bachelor) for $1,300.00. Located just steps from the vibrant Welland Farmers' Market, Merritt Island Park, the Welland River, and the city's revitalized downtown core, this charming turn-of-the-century home is ideally located for convenience and lifestyle. Live in one unit while generating rental income from the others, or co-purchase with a partner to build equity together. The home has been well maintained and retains much of its original charm, while offering updated functionality. Updates: Electrical (2024), Bathroom Renovated 3rd floor (2025), New Appliances in 3rd floor (2025), Insulated 2nd floor ceiling to improve with sound from top floor (2025). Coined washer and dryer are not included but available for purchase if needed. Boiler has been serviced every year. Separate hydro and gas meters and three hot water heaters. This is a solid house and investment. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Cooling None
Exterior
Parking Features Yes
View Y/N No
Total Parking Spaces 4
Private Pool No
Building
Story 2.5
Sewer Municipal sewage system
Others
Ownership Freehold
Listed by Coldwell Banker Community Professionals
