129 Durham Street Port Colborne, Ontario L3K 1E1
$599,900
Discover a solid investment opportunity at 129 Durham St, Port Colborne. This property offers four suites, two in the front structure and two in the back, all currently vacant, allowing you to choose your tenants and secure top-market rent near the 1% rule with a potential NOI of $50,000 upon filling vacant units. Each suite has separate meters for hydro and water, with sub-meters installed, leaving only gas expenses to the landlord. Tenants benefit from ample off-street and street parking options. Shared laundry facilities are available on-premise for added convenience. Located in an area with affordable property taxes, strong rental demand, and low vacancy rates, 129 Durham St provides a practical investment opportunity. The charming city of Port Colborne offers residents easy access to marinas, parks, and the Welland Canal, making it an appealing choice for tenants seeking a well-balanced lifestyle. Capital improvements made in 2022/2023 include a new furnace for units 3 & 4 in the back structure, new windows, roof, soffit, eavestrough, and gutters. The front structure's roof remains in excellent condition. The property is insulated and features sub-meters for hydro and water. Further cosmetic enhancements in 2022/2023 include new interior and exterior doors, contemporary kitchens, commercial-grade high-wear flooring, tile, smart thermostats, and revamped bathrooms. Vendor take back (VTB) mortgage negotiable (id:52486)
Business
| Business Type | Residential |
| Business Sub Type | Residential |
Property Details
| MLS® Number | H4174285 |
| Property Type | Multi-family |
| Equipment Type | None |
| Features | Double Width Or More Driveway, Paved Driveway |
| Parking Space Total | 4 |
| Rental Equipment Type | None |
Building
| Appliances | Refrigerator, Stove |
| Architectural Style | 2 Level, Multi-unit |
| Basement Type | None |
| Construction Style Attachment | Detached |
| Exterior Finish | Vinyl Siding |
| Fire Protection | Smoke Detectors |
| Foundation Type | Unknown |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Exterior | 2045 Sqft |
| Size Interior | 2045 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Municipal Sewage System |
| Size Depth | 88 Ft |
| Size Frontage | 31 Ft |
| Size Irregular | 31 X 88 |
| Size Total Text | 31 X 88|under 1/2 Acre |
https://www.realtor.ca/real-estate/26058672/129-durham-street-port-colborne
Interested?
Contact us for more information
Robert Kasowski
Salesperson
(905) 664-2300
860 Queenston Road Unit 4b
Stoney Creek, Ontario L8G 4A8
(905) 545-1188
(905) 664-2300
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September 14 2023 10:09:45
REALTORS® Association of Hamilton-Burlington
RE/MAX Escarpment Realty Inc.