42 Riverside Drive Welland, Ontario L3C 5E2
$499,000
Unique Investment opportunity with this legal Multi-Unit (4) located directly on the Welland River! *VACANT POSSESSION OF ALL 4 UNITS* Possibilities are endless with this 4 unit property consisting of 1 - 3 bedroom unit, 2 - 1 bedroom units, and a Bachelor unit. Separate hydro meters for unit 3 & 4, and shared hydro meter for unit 1 & 2. Walk out Entrance from Lower LeveL Flat Roof replaced in 2013. Heated by efficient boiler system. Building does need extensive work (update interior finishes throughout) to get current market rent values which are estimated at approximately $1800/month + hydro for 3 bed, $1600/month + hydro for each - 2 bedroom units, $750/month + hydro for Bachelor unit giving it a potential total gross rent of $5750/month or $69,000/yr! The potential of this property alone makes it worth a look to see if the numbers may work for you! Book your showing today! (id:38042)
42 Riverside Drive, Welland Property Overview
| MLS® Number | 40534390 |
| Property Type | Multi-family |
| Amenities Near By | Golf Nearby, Hospital, Park, Place Of Worship, Public Transit, Schools, Shopping |
| Community Features | School Bus |
| Equipment Type | Water Heater |
| Features | Conservation/green Belt, Paved Driveway |
| Parking Space Total | 6 |
| Rental Equipment Type | Water Heater |
| Structure | Workshop |
| Water Front Name | Welland River |
| Water Front Type | Waterfront On River |
42 Riverside Drive, Welland Building Features
| Bathroom Total | 4 |
| Bedrooms Total | 6 |
| Basement Development | Unfinished |
| Basement Type | Full (unfinished) |
| Constructed Date | 1918 |
| Cooling Type | Wall Unit |
| Exterior Finish | Vinyl Siding |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Radiant Heat |
| Stories Total | 2 |
| Size Interior | 3711 |
| Type | Fourplex |
| Utility Water | Municipal Water |
42 Riverside Drive, Welland Land Details
| Acreage | No |
| Land Amenities | Golf Nearby, Hospital, Park, Place Of Worship, Public Transit, Schools, Shopping |
| Sewer | Municipal Sewage System |
| Size Depth | 70 Ft |
| Size Frontage | 45 Ft |
| Size Total Text | Under 1/2 Acre |
| Surface Water | River/stream |
| Zoning Description | Rl2 |
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
April 22 2024 08:04:48
Niagara Association of REALTORS®
Revel Realty Inc., Brokerage