32 & 34 River Street

Original Remarks

A Rare Twin Semi Detached 4-Plex with 3-3 Bedrooms and 1-1+1 Bedrooms 4 parking spaces with a 6% Cap rate (See Financials attached) There is potential for rents to be increased an extra $3000 monthly when units become re-rented at current market rates making over 10% Cap rate at current listing price. One 3-Bedroom unit is becoming available in January they have been paying $1400 /mo. that can be increased to $700 extra or $2100 mo. The owner has the City rental permit for all units and the permit is transferable to the new owners. Tenants Pay their own Hydro and Gas. Owner pays for Water. All leases are Month to Month. All separately metered. One unit has gas and the other units have baseboard heaters. ***NEW ROOF 2024*****NEW FRONT PORCH 2021****LOWER UNIT NEW FURNACE INSTALLED 2015****NEW DECK PATIO 2019****ALL NEW WATER TANKS 5 YEARS AGO OWNED. NEW Floor plus Apartment facelifts by unit and date. 32 Upper Renovated 2017. 32 Lower Renovated 2020. Upper........2019. Lower Renovated 2019. Office Unit......2015. Building is Only 30 years old!!! Property located in a scenic Village Setting! Close to Brock University 7 min. and Niagara College 14 min. Very Close to the Welland Canal's twinned flight locks where ships climb the mountain!! Great tourist attraction. Approx. 3800 Sq Ft of Total Living Space !!!!! HUGE 55 x 173' DEEP Lot! AVM Range to $773,852 we are below this amount!!! VENDOR IS MOTIVATED & WILLING TO HOLD A FIRST MORTGAGE FOR THE RIGHT BUYER!!