$940,000
Available - For Sale
Listing ID: X13233040
5749 Summer Street , Niagara Falls, L2G 1M5, Niagara
| 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, concrete 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. Potential Land Assembly Opportunity: The adjacent corner parcel is also currently available for purchase (sold separately), offering purchasers the opportunity to explore a potential land assembly and larger combined site footprint. 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. |
| Price | $940,000 |
| Taxes: | $4788.28 |
| Tax Type: | N/A |
| Occupancy: | Tenant |
| Address: | 5749 Summer Street , Niagara Falls, L2G 1M5, Niagara |
| Postal Code: | L2G 1M5 |
| Province/State: | Niagara |
| Legal Description: | LT 5 BLK 3 PL 299 NIAGARA FALLS; PT LT 6 |
| Directions/Cross Streets: | Summer St. & Temperance Ave |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Apartment |
| Building Percentage: | T |
| Total Area: | 0.22 |
| Total Area Code: | Acres |
| Washrooms: | 1 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | No |
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| Royal LePage Our Neighbourhood Realty |
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At a Glance:
| Type: | Com - Investment |
| Area: | Niagara |
| Municipality: | Niagara Falls |
| Neighbourhood: | 215 - Hospital |
| Tax: | $4,788.28 |
| Baths: | 1 |
| Fireplace: | N |
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