5749 SUMMER STREET, Niagara Falls (Hospital)

$940,000

For sale: Multiplex

Multiplex at 5749 SUMMER STREET, Niagara Falls (Hospital)
Property type
Investment
Bedrooms / bathrooms
10 bedrooms, 1 bathroom
MLS®
MLS® X13233040
Neighbourhood
215 - Hospital

Legal Non-Conforming 4-Plex + In-Law Suite | Prime Investment Opportunity. Fantastic income property featuring 5 x 2-bedroom units, including a lower-level 2-bedroom in-law suite with separate entrance. Set on a large 60.14 x 160.75 ft lot, this turnkey building includes a detached double garage, concrete driveway, and parking for all units. Four units have been recently renovated with approx $240,000 in upgrades, plus a brand-new coin-operated laundry room (2024). Additional updates include breaker panels, windows and doors, basement waterproofing, roofs (2011), boiler (2012), and bathroom upgrades throughout several units. Gross annual income approximately $97,686 with a desirable cap rate exceeding 8%. Ideally located just steps from the hospital, public transit, shopping, and other amenities in a rapidly evolving area of Niagara Falls. Whether maintaining the existing income-producing assets or investigating future redevelopment possibilities, buyers are encouraged to complete their own due diligence regarding zoning, permitted uses, redevelopment potential, and municipal requirements. A rare opportunity to acquire a high-performing income property with immediate cash flow, significant recent capital improvements, and potential long-term upside in one of Niagara Falls' growing neighbourhoods.

Sold data

Multiplex homes in Niagara Falls (Hospital) — recent sold market

Multiplex homes in Niagara Falls (Hospital) took a median of 35 days to sell over the last 730 days, with the quickest quarter selling within 19 days and the slowest quarter taking more than 60, across 34 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 Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 56 days.

The median sale price was $530,000.

Homes sold for about 7.8% below asking on average, so there was room to negotiate.

About 12% of sales closed above the list price.

Around 18% of sellers reduced their price before finding a buyer.

Median days to sell
35
Median sale price
$530,000
Sale-to-list ratio
92.2%
Sold above asking
12%

Based on 34 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Niagara Falls (Hospital)

Niagara Falls (Hospital) has 31 Fraser Institute–rated schools (26 elementary and 5 secondary), averaging 7.6/10.

Rated schools
31
Elementary
26
Secondary
5
Average rating
7.6 / 10

Top-rated schools in Niagara Falls (Hospital)

  • Kate S Durdan — elementary, Niagara FallsFraser rating 10.0/10
  • Father Hennepin — elementary, Niagara FallsFraser rating 9.9/10
  • St Vincent de Paul — elementary, Niagara FallsFraser rating 9.9/10
  • Orchard Park — elementary, Niagara FallsFraser rating 9.8/10
  • Simcoe Street — elementary, Niagara FallsFraser rating 9.4/10
  • Heximer Avenue — elementary, Niagara FallsFraser rating 9.3/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 5749 SUMMER STREET