15 WELLINGTON

Home Details

Description

Prime investment opportunity in the heart of downtown St. Catharines. This 18-room rental property spans a total gross floor area of +/-6651 sq.ft (618 sqm). Currently rented at $500 - $875 per room, with potential to add another room, this building offers a robust income stream with multiple opportunities for optimization. The property is equipped with fibre optic internet infrastructure, providing reliable, hardwired connections to every bedroom. Security features include trackable key card and punch code entry at each exterior door, with locked doors for every bedroom. Located only 900 meters from the St. Catharines bus terminal (a 12-minute walk), the property is situated in a highly walkable neighborhood close to various amenities. Building construction is resilient to damage, ensuring minimal maintenance and straightforward property management. There are significant opportunities to enhance net operating income through streamlined operations, tenant demographic adjustments, and other efficiencies. Property includes full kitchen and laundry facilities on each floor. The upper level features 10 bedrooms, 3 full baths, 1 individual shower, and 1 half bath. The lower level houses 8 bedrooms with potential for a 9th, along with 3 individual showers and 3 half baths. (id:39198)

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Additional media

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Property taxes

$5,424.00 per year / $452.00 per month

Basement

Finished, Full

Year build

-

Type

Multi-family

Bedrooms

null

Bathrooms

7

Parking spots

3 Total

Floor

-

Balcony

-

Pool

-

External material

Concrete

Roof type

-

Lot frontage

-

Lot depth

-

Heating

Natural gas

Fire place(s)

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