| McRae Street, Niagara Falls, ON
Offer Date: FIRST COME FIRST SERVE
Closing Date: January 5th 2024
** Realtors bring us a client and add your commission on top of the purchase price**
About the Property
Investors looking to buy a multiplex in Niagara Falls, checkout SLGs newest deal! This property consists of two 2 beds 1 bath units and two 1 bed 1 bath units. This cash flowing fourplex will come fully tenanted with AAA tenants. Tenants all pay on time and would like to stay, buyer will need to inherit the tenants, however, after closing if they choose to issue an N12 they may. The units are dated but in good habitable condition and could potentially use a facelift to bring rent up to market rent when/if tenants vacate. This property is perfect for an investor looking to add a tenanted multiplex to their portfolio!
About the Neighbourhood
The subject property is situated in a desirable neighborhood in Niagara Falls. The subject property is surrounded by a variety of recreational amenities. Niagara Falls and Clifton Hills are only a 3-minute drive away. The rainbow bridge leading into the United States is located only 10 minutes away. Freshco, Sobeys, and Costco are under 15 minutes away from the subject property. Access to the QEW is only a 5-minute drive away.
Property Details
- Detached Fourplex
- 2 beds 1 bath rented at $1460, not including gas
- 2 beds 1 bath rented at $1380 including utilities
- 1 beds 1 bath rented at $743 including utilities
- 1 beds 1 bath rented at $677 including utilities
- 2821 sqft above grade
- 1418 sqft below grade
- Built in 1910
- 4 Fridges and 4 Stoves are included
- 4 parking spots
- 3 parking spots in the back
- 1 parking spot in the front
- Breaker panel, copper wiring
- Not separately metered, seller pays hydro
- No A/C
- 3 separately gas metered, for each furnace
- Units 3 and 4 (basement units) share a furnace
- Owned and are about 5 years old
- HWT is a rental, 10 years old
- Roof was redone in 2018
- Windows are about 5-10 years old
- Property taxes are approximately $3800
- 38 ft x 120 ft lot
- Zoning R2
Recommended Renovations
- Cash for keys or continue renting with current tenants and continue to enjoy the Cash Flow
- Seller has the option to leave junk behind so we recommend budgeting for junk removal
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