$2,200,000

9 Albert Street

Welland ON, L3B 4G1

Description

*** Up To 75% VTB 1st Mortgage OR Assume Existing 1st Mortgage About $324,000 @ 2% For 8 Years + Up To 65% VTB 2nd Mortgage. *** Approx 4,044 Square Feet 2 Storey Legal Rooming House. 19 Rooms. Excellent Floor Plan, Easy to Manage. *** 1st Floor 8 Bedrooms, 1 Kitchen, 1X4 Washroom, 1X 2 Shower Stalls, 1X2 Washroom, 1X3 Washroom *** + *** 2nd Floor 11 Rooms, 1 Kitchen, 1X2 Washroom, 1X4 Washroom *** Great Set Up For Student Housing Or Long Term Lodging By The Bus Route. *** About 8 Minutes Drive to Niagara College Welland Campus with Over 9,000 Students *** 9 Albert Street was recently gone thru a major renovation in 2019 (Windows, Doors, Many Newer Renovation / Improvement Thru Out), Gross Income About $11,000 / Month OR $132,000 / Year and the Rental Income keeps on Increasing (This is a Positive Cash Flow Money Making Cash Cow Property and Business). Easy to Manage Rooming House Operation in Welland. Total Expenses: Property Tax + Utilities + Maintenance Etc Estimated $20,000 / Year. Rental (Boiler, Hot Water Heater) to be assumed on Closing. *** Unit #17, 18, 19 in 2nd Floor is a self contained three bedrooms + Balcony with 1 X 4 Piece washroom, 1 kitchen, Excellent for Owner family / Manager / Superintendent Private Suite *** *** Property In As Is-Where Is Condition. No Warranty From Seller / Agents. Buyer To Perform Own Due Diligence. *** No Property Survey *** Welland Is A Growing Town Over 52,000 People Population With Welland Canal, Niagara College Welland Campus, Seaway Mall, Conservation Area, Merritt Island, 3 Golf Courses Etc. 20 Minutes To Niagara Falls, St Catharines And Port Colborne. The Welland Canal is a major part of the St. Lawrence Seaway, providing a deep draft passage that bypasses Niagara Falls between Lakes Erie and Ontario. It provides access to safe ports and rail routes to Canadas west or to the east, and easy access to the Atlantic Ocean as well as much of the rest of the world.

Details

MLS#40101665
Listing TypeFor Sale
StyleIndustrial
Sub-TypeResale
StatusActive
Year1917
Days On Site16

Features

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Area Information
ProvinceON
CountyNiagara
CityWelland
Postal CodeL3B 4G1
AreaWelland
Listing VS Median (in L3B 4G1)
Price:
$2,200,000
low | high
Med:
$2,200,000
50% of Average
On Site:
16
low | high
Med:
16
100% of Average
Sourced by Back At You
Listing Updated: May 6, 2021 8:00:52 PM PDT
Albert Lai LogoMLS Number: 40101665
Listing Provided By:
Albert Lai  of  RE MAX REALTY SPECIALISTS INC.(ST)
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