22 & 24 RIVER STREET, Thorold (Port Robinson)
$1,125,000
For sale: Multiplex
- Property type
- Multiplex
- Bedrooms / bathrooms
- 16 bedrooms, 9 bathrooms
- Living area
- 100,000 sqft
- MLS®
- MLS® X13002648
- Neighbourhood
- 561 - Port Robinson
9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/1125000= 6.4% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/1,125,000=12.2% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage with 15% min down payment.
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