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$ 974,000
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224 MITCHELL ST Port Colborne, ON L3K 1Y3
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Subdivision 876 - East Village
MLS Listing ID X11962911
Style 2-Storey
Bedrooms 11
Building Age 51-99
Annual Tax Amount $5,177
Tax Year 2024
Property Sub-Type Multiplex
Property Description
8 UNIT MULTIPLEX! INCREDIBLE MULTI-UNIT INVESTMENT OPPORTUNITY IN PORT COLBORNE!Discover the potential of 220-224 Mitchell & 59 Louis, a unique multi-property package featuring three separate dwellings including two duplexes and a fourplex for a total of eight units! This cash-flowing investment boasts six fully renovated and rented units, one rented but unrenovated unit, and one gutted unit approved for a five-bedroom rooming house.224 Mitchell (Fourplex): Three renovated 1-bed units plus one gutted 5-bed unit, generating $3,700/month (with major upside once the 5-bed unit is completed).59 Louis (Duplex): A 1-bed unit and a bachelor unit, generating $1,700/month, plus a garage and shed for additional value.220 Mitchell (Duplex): Two 1-bed units, each rented at $1,250, bringing in $2,500/month.Total gross rental income of $7,900/month, with significant potential for increased cash flow once the unfinished unit is completed. All three properties have newer roofs (2015), updated windows, siding, soffits, eaves, and modernized plumbing for peace of mind. The city recognizes seven units, making this a rare and highly lucrative investment opportunity with both strong current income and future appreciation potential!
Location
State ON
County Niagara
Community 876 - East Village
Area Niagara
Zoning R3
Rooms
Family Room No
Basement None
Kitchen 6
Interior
Interior Features None
Cooling None
Exterior
Parking Features Other
Garage Spaces 2.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 60.28
Lot Depth 90.0
Total Parking Spaces 4
Building
Foundation Concrete Block
New Construction false
Others
Senior Community No
Security Features Smoke Detector
Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE