22 & 24 River Street

Original Remarks

This Rare 9-Unit Multi-Residential Investment property in Thorold offers a storybook setting at 22 & 24 River Street which are located in the historic hamlet of Port Robinson, situated on the east bank of the Welland Canal. 7 out of 9 Units have been updated and consists of 1-3 Bedroom $1500*. 5-2 Bedrooms,$1450. ,$1300, $1290, $950, & $630 (Live-In Super) $1450 will be the new rental price of the one vacant unit. 2-1 Bedrooms $1150, $935** 1 Bachelor $950. Coin Laundry $2500 income Yr. 8 out of 9 units pay their own Hydro being separately metered! Residential License for both Properties til Feb 2028! 1/2 Roof was replaced in 2024 Bills to be provided, 2-Natural Gas furnaces which cover 2 units the Owner pays for. (3) Water Rental Tanks $1750, Gas $2300, Water $1500, Hydro $2800, Maintenance is around $2500.Insurance $6350. Property Valued at $155,000 per Unit, based on 32 and 34 River Street selling at $162,500 given it was a newer property just a couple of months ago, on the same street same location. Most recent 8 Unit property sold for Over $220,000 per door! Less than 1 % of properties in Thorold are multi-residential . So this is a good opportunity to own this 9-Plex at a fantastic price. Pre-Inspection Report will be attached on Friday April 17th, by a Certified Master Inspector. Thank you