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224 Mitchell St, Port Colborne, ON

Name: 224 Mitchell St, Other in Port Colborne - eXp Realty
Brand: RE/MAX NIAGARA REALTY LTD, BROKERAGE
SKU: X12887386
Price: 699000 CAD

House

Other

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1172

MLS® X12887386

Key Facts
Description
Map

Key Facts

Type Multi Family

Levels Residential

Size -

Garage None

Taxes $5,499

Days Active 17

Lot Size

Approx. Age

MLS® Number X12887386

Property Address: 224 Mitchell St, Port Colborne, ON, L3K1Y3

Average square foot calculated using Size range provided by listing agent.

Description

Excellent opportunity to acquire a multi-property residential investment portfolio in the growing community of Port Colborne. This offering includes three separate buildings with a total of eight residential units located at 220 Mitchell St., 224 Mitchell St., and 59 Louis St., providing strong current income with additional value-add potential. 224 Mitchell Street (4 units): Currently configured with three fully renovated one-bedroom units plus one that is currently under renovation presenting significant upside once completed. 220 Mitchell Street (2 units): Two one-bedroom units, both currently tenanted at $1, 250 per month, generating $2, 500 in monthly income. 59 Louis Street (2 units): One one-bedroom unit currently generating $700 per month and one unit currently vacant with a previous rent of $1, 050 per month. The property also features a detached garage and additional storage shed, providing further tenant convenience and potential rental value. Across the portfolio there are six renovated and tenanted units and two vacant units ready for finishing and re-tenanting. The current combined gross monthly income from occupied units totals $6, 850, with potential gross income of $7, 900 per month once both vacant units are filled. Major capital improvements have been completed across the properties, including roof replacements (2015), updated windows, exterior siding, soffits, eavestroughs, and plumbing upgrades, helping reduce near-term maintenance concerns. Plumbing repairs have also been completed in the vacant units. With eight units across three buildings, this package presents a compelling opportunity for investors seeking a stabilized asset with additional redevelopment and rental upside. Conveniently located close to amenities, parks, and the historic Welland Canal corridor, which continues to support growth and revitalization in the area.Show Description

MLS® NumberX12887386

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

GarageNone

Approx. Age

BasementPartial Basement

DrivewayGarage Type:None

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eXp REALTY

The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. eXp Realty holds real estate brokerage licenses in multiple provinces. For information on licenses please contact us at [email protected]

For listings in Canada, the trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.