$599,900
For sale: Multiplex

Excellent 4 plex features 4 2 bedroom apartments and incredible future income and expansion potential! Solid building with many updates. 4 separate hydro meters. 4 separate gas meters. Nice, neat and clean. Updated windows, and roof. Located on .32 of an acre, this lot offers lots of room for expansion and the creation of additional units. (Buyer to verify with the Town of Fort Erie). Very reasonable expenses. Average water bill is $156.00 and insurance is $242.00 per month. 4 long term tenants. Current rents are substantially under market value. A new owner can renovate each unit as they become available, and increase the rents to market level. Wonderful opportunity for a patient and experienced real estate investor.
Sold data
Homes in Fort Erie (Crystal Beach) took a median of 37 days to sell over the last 90 days, with the quickest quarter selling within 18 days and the slowest quarter taking more than 77, across 183 recorded sales.
That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 69 days.
The median sale price was $549,000.
Homes sold for about 3.6% below asking on average, so there was room to negotiate.
About 7% of sales closed above the list price.
Around 34% of sellers reduced their price before finding a buyer.
Based on 183 recorded sales in the last 90 days. Aggregate statistics only; individual sale prices are not shown.
Schools
Fort Erie (Crystal Beach) has 5 Fraser Institute–rated schools (4 elementary and 1 secondary), averaging 6.5/10.
School ratings from the Fraser Institute's Ontario school report cards.
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