29 AFTON Avenue

Welland, Ontario, L3B1V6, Canada

$1,399,000

Here is your opportunity to take over a newly constructed multi-plex that is fully leased with great tenants and potential to finish 2 more units! Built in 2021 by Mountainview, this building is a turn-key investment. All units are separately metered for gas and hydro with all Tenants paying for their own gas and hydro. Each unit is 2 bedrooms, 1 bathroom with in-suite laundry, own furnace, own central air conditioner, own hot water heater, a full kitchen with stainless steel fridge, stove & dishwasher and bright open living space measuring 805 sqft each. There is potential to complete the lower level two units that replicate the other 4 units, making this a 6-plex. The exterior walls in the basement are drywalled and water is all plumbed-in. There are a total of 6 off-street parking spots, one assigned for each unit. Security cameras installed on exterior of building. Start your retirement plan earning passive income from this great opportunity! The landlord currently has a 5% cap rate and potential for 8% once the lower two units are completed and leased. Landlord pays water/sewer and property tax. Security camera and secured main entrance installed on the exterior of the building. Floor plans are available.

EXTRAS: Shared Driveway

Last updated on : Monday 6th of May 2024 10:14:12 AM

ADDRESS

Street : 29 AFTON Avenue

City : Welland

Province : Ontario

Country : Canada

Postal Code : L3B1V6

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PROPERTY SUMMARY

Property ID : 40582681

Building Type : Fourplex

Property Type : Multi-family

Bedrooms : 8

Bathrooms : 4

Parking : 6

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