39
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$975,000
Est. payment /mo
12 Beds
4 Baths
Active
480 King ST Welland, ON L3B 3K7
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Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision 773 - Lincoln/Crowland
MLS Listing ID X12251578
Style 2-Storey
Bedrooms 12
Annual Tax Amount $3,806
Tax Year 2024
Property Sub-Type Fourplex
Lot Depth 130.0
Lot Front 110.57
Appx SqFt 3500-5000
Property Description
Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant one requiring only minor cosmetic updates and the other ready for a full renovation.Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys offering a compelling opportunity for future intensification in a central location.A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets.
Location
Province ON
County Niagara
Community 773 - Lincoln/Crowland
Area Niagara
Rooms
Family Room Yes
Basement Partial Basement
Kitchen 4
Interior
Interior Features None
Cooling None
Fireplace Yes
Heat Source Gas
Exterior
Pool None
Roof Type Asphalt Shingle
Lot Frontage 110.57
Lot Depth 130.0
Total Parking Spaces 10
Building
Foundation Concrete
Listed by EXP REALTY
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