224 Mitchell Street Port Colborne, Ontario L3K 1Y3
$999,000
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! (id:50886)
Property Details
| MLS® Number | X11962911 |
| Property Type | Multi-family |
| Community Name | 876 - East Village |
| Parking Space Total | 4 |
Building
| Bathroom Total | 7 |
| Bedrooms Above Ground | 11 |
| Bedrooms Total | 11 |
| Exterior Finish | Stucco, Wood |
| Fire Protection | Smoke Detectors |
| Foundation Type | Block |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Stories Total | 2 |
| Type | Other |
| Utility Water | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 90 Ft |
| Size Frontage | 60 Ft ,3 In |
| Size Irregular | 60.28 X 90 Ft |
| Size Total Text | 60.28 X 90 Ft |
| Zoning Description | R3 |
Contact Us
Contact us for more information
Greg Sykes
Salesperson
261 Martindale Rd., Unit 14c
St. Catharines, Ontario L2W 1A2
(905) 687-9600
(905) 687-9494
www.remaxniagara.ca/
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
February 10 2025 04:25:57
Niagara Association of REALTORS®
RE/MAX Niagara Realty Ltd, Brokerage