40
$940,000 Sale
Listed 131 days ago
5749 SUMMER STREET
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· 1.0
· 4
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Key Facts
Key facts for 5749 SUMMER STREET
Property Type
Apartment
Parking
Garage: No, 4 parking
MLS #
X13233040
Size
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Basement
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Listed on
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Lot size
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Tax
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Days on Market
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Year Built
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Maintenance Fee
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Description
Legal Non-Conforming 4-Plex + In-Law Suite | Prime Investment Opportunity. Fantastic income property featuring 5 x 2-bedroom units, including a lower-level 2-bedroom in-law suite with separate entrance. Set on a large 60.14 x 160.75 ft lot, this turnkey building includes a detached double garage, co...ncrete driveway, and parking for all units. Four units have been recently renovated with approx $240,000 in upgrades, plus a brand-new coin-operated laundry room (2024). Additional updates include breaker panels, windows and doors, basement waterproofing, roofs (2011), boiler (2012), and bathroom upgrades throughout several units. Gross annual income approximately $97,686 with a desirable cap rate exceeding 8%. Ideally located just steps from the hospital, public transit, shopping, and other amenities in a rapidly evolving area of Niagara Falls. Whether maintaining the existing income-producing assets or investigating future redevelopment possibilities, buyers are encouraged to complete their own due diligence regarding zoning, permitted uses, redevelopment potential, and municipal requirements. A rare opportunity to acquire a high-performing income property with immediate cash flow, significant recent capital improvements, and potential long-term upside in one of Niagara Falls' growing neighbourhoods. (id:10452)
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Listing courtesy of: Royal LePage Our Neighbourhood Realty
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