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$ 549,000
Est. payment /mo
Price Dropped by $20K
23 Avenue PL Welland, ON L3B 4B2
5 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500-3000
Subdivision 768 - Welland Downtown
MLS Listing ID X12164718
Style 2 1/2 Storey
Bedrooms 5
Annual Tax Amount $3,120
Tax Year 2024
Property Sub-Type Triplex
Property Description
Legal Triplex! Located downtown Welland, a well maintained home and ready to be leased. The units are vacant and when rented it makes an exceptional cash flow positive investment. When it was rented in 2024, the property was grossing $56,700.00 annually and is now offered at a 7% cap rate. Unit 1 (2-beds) was renting for $1,750, Unit 2 (3-beds) for $1,650.00, and unit 3 (bachelor) for $1,300.00. Located just steps from the vibrant Welland Farmers' Market, Merritt Island Park, the Welland River, and the city's revitalized downtown core, this charming turn-of-the-century home is ideally located for convenience and lifestyle. Live in one unit while generating rental income from the others, or co-purchase with a partner to build equity together. The home has been well maintained and retains much of its original charm, while offering updated functionality. Updates: Electrical (2024), Bathroom Renovated 3rd floor (2025), New Appliances in 3rd floor (2025), Insulated 2nd floor ceiling to improve with sound from top floor (2025). Coined washer and dryer are not included but available for purchase if needed. Boiler has been serviced every year. Separate hydro and gas meters and three hot water heaters. This is a solid house and investment.
Location
Province ON
County Niagara
Community 768 - Welland Downtown
Area Niagara
Rooms
Family Room Yes
Basement Unfinished
Kitchen 3
Interior
Interior Features Separate Hydro Meter
Cooling None
Inclusions 3 fridges, 3 stoves, 3 fire extinguishers
Exterior
Parking Features Available
Garage Spaces 1.0
Pool None
Roof Type Asphalt Shingle
Lot Frontage 40.0
Lot Depth 70.0
Total Parking Spaces 4
Building
Building Age 100+
Foundation Concrete Block
Others
Senior Community Yes
ParcelsYN No
Listed by Coldwell Banker Community Professionals
