215 Broadway Avenue Welland, Ontario L3C 5L7

$695,000

Large duplex with a front 6-bedroom apartment (currently fully rented by the bedroom to six good long term tenants) and a rear 5-bedroom apartment (currently owner occupied which could be vacated on closing or rented to the seller if the buyer wishes). This former church building offers a very spacious owner occupied rear unit with 5 bedrooms, kitchen, dining room, living room, laundry, pantry and 3 pc bathroom plus a large patio area and rear parking. The front of the building has a very large 6 bedroom unit, currently rented, with each bedroom having its own 2 pc washroom (5 rooms @ $700/month and 1 room @ $630/month on next increase). Tenants in the front unit share a kitchen, living room and 3 pc bathroom with shower. The rear owners unit could be rented for an additional $3,000 or more a month. Updates include roof shingles 2019, two high efficient furnaces 5-6 yrs old and central air. Electric hot water tank is owned, gas one is rented. 600 amp updated electric service. Some parking. Owner is willing to stay on and rent the rear unit and manage the 6 rooms that are currently rented or he can vacate on closing if the buyer wishes. Current rental income $46,240 (in the front unit only) with expenses of property taxes $2930, hydro $4870, gas $3760, rental water heater $540, water $2530. Buyer can live in the beautiful and spacious rear owners unit and let the tenants in the front unit pay the bills including the mortgage! (id:50886)

Property Details

Building

Parking

Land

Utilities

https://www.realtor.ca/real-estate/28833821/215-broadway-avenue-welland-broadway-772-broadway