$975,000

480 King St, Welland, L3B 3K7

10 Parking

3,500-5,000 sqft

Description: Strategically located beside the hospital in the heart of Welland, this semi-vacant fourplex offers both immediate upside and long-term redevelopment potential. The property features four spacious three-bedroom units, each equipped with separate laundry, making it ideal for end users or tenants seeking functional living space. Two of the units are currently tenanted at or near market rent, while the remaining two are vacant one requiring only minor cosmetic updates and the other ready for a full renovation.Once stabilized, the building is projected to generate nearly $100,000 in annual gross income, delivering a strong 7.1% cap rate at asking. Sitting on nearly half an acre of land, the site benefits from rare INSH zoning, which permits development of up to 8 storeys offering a compelling opportunity for future intensification in a central location.A rare chance to acquire a cash-flowing asset with immediate upside, generous unit layouts, and significant redevelopment potential in one of Niagara's fastest growing markets.
91 days
On Market
Fourplex
Property Type
$3,806 / Year
Est. Taxes
$0 / Month
Maint. Fees
-
Locker
-
Year Built

$964,038

-$10,962 below list price

EXP REALTY - Disclaimer: The information contained in this listing has not been verified by EXP REALTY and should be verified by the buyer.

Data is deemed reliable but not guaranteed accurate by TRREB.