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39
480 KING Street
$975,000 Sale
Listed 51 days ago
· 0
· 0.0
· 10
· 3900
Key Facts
Key facts for 480 KING Street
Property Type
Apartment, Fourplex
Parking
Garage: No, 10 parking
MLS #
40746082
Size
3900 sqft
Basement
Unfinished, Partial (Unfinished)
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
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 seek...ing 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. (id:10452)
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Listing courtesy of: EXP Realty Brokerage
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