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Akash Sharma

[email protected] +1(343) 804-0015

$ 1,295,000

Est. payment -/mo

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15 WELLINGTON ST St. Catharines, ON L2R 5P7

6,650 SqFt

UPDATED:

12/17/2024 02:35 PM

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Square Footage 6,650 sqft

Price per Sqft $194

MLS Listing ID X9411911

Annual Tax Amount $5,424

Tax Year 2023

Property Description

Prime investment opportunity in the heart of downtown St. Catharines. This 18-room rental property spans a total gross floor area of +/-6651 sq.ft (618 sqm). Currently rented at $500 - $875 per room, with potential to add another room, this building offers a robust income stream with multiple opportunities for optimization.The property is equipped with fibre optic internet infrastructure, providing reliable, hardwired connections to every bedroom. Security features include trackable key card and punch code entry at each exterior door, with locked doors for every bedroom. Located only 900 meters from the St. Catharines bus terminal (a 12-minute walk), the property is situated in a highly walkable neighborhood close to various amenities.Building construction is resilient to damage, ensuring minimal maintenance and straightforward property management. There are significant opportunities to enhance net operating income through streamlined operations, tenant demographic adjustments, and other efficiencies.Property includes full kitchen and laundry facilities on each floor. The upper level features 10 bedrooms, 3 full baths, 1 individual shower, and 1 half bath. The lower level houses 8 bedrooms with potential for a 9th, along with 3 individual showers and 3 half baths. Potential Vendor financing option on approved OAC and terms.

Location

Province ON

County Niagara

Community 451 - Downtown

Area Niagara

Zoning C1-93

Region 451 - Downtown

City Region 451 - Downtown

Rooms

Kitchen 0

Interior

Interior Features None

Cooling Yes

Inclusions 18 Fridges, 2 Stoves, 2 Washers, 2 Dryers, Carbon Monoxide Detector, Microwave, Smoke Detector, Window Coverings

Laundry Common Area, Shared, Coin Operated

Exterior

Garage Spaces 3.0

Pool None

Community Features Public Transit

Utilities Available Unknown

Roof Type Flat

Lot Frontage 39.99

Lot Depth 100.0

Total Parking Spaces 3

Building

Foundation Concrete Block

New Construction false

Others

Senior Community No

Security Features Unknown

Listed by COLLIERS INTERNATIONAL NIAGARA LTD.

Akash Sharma

Real Estate Agent

+1(343) 804-0015

Akash Sharma

15 WELLINGTON ST St. Catharines, ON L2R 5P7

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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15 WELLINGTON ST