$579,000

For sale

4591 Homewood Avenue, Niagara Falls (Cherrywood) - Multi-family for Sale

4591 Homewood Avenue, Niagara Falls (Cherrywood), Ontario, L2E4X9

6 beds3 baths7 parking1,300 ft²40 × 130 ft (5,200 sq ft) lot sizeListed 54 days ago

Overview

This multi-family property in Niagara Falls is for sale offering roughly 1,300 sq ft of space. It has been on the market 54 days, fresher than the Niagara Falls average of 76 days.

Multi-Family Properties for Sale in Niagara Falls →All real estate in Niagara Falls →

Description

INVESTMENT OPPORTUNITY - TWO UNITS VACANT AS OF DECEMBER 1, 2026. This legal non-conforming triplex offers excellent flexibility and income potential, with the rear 1-bedroom unit currently vacant and the main-floor 2-bedroom unit becoming vacant December 1, 2026, allowing a new owner to establish two new tenancies.The main-floor 2-bedroom unit was renovated in 2023, while the lower-level 3-bedroom unit was renovated in 2020 and features large windows with plenty of natural light. The rear unit offers 1 bedroom and 1 bathroom. Additional highlights include an oversized 2-car garage with hydro, two separate hydro meters, a new roof completed in 2023, and an owned hot water tank.With two units available for occupancy as of December, this is a great opportunity for an investor looking to reposition the property and maximize its income potential. (id:66096)

Property Details

MLS®: X13771472
Property Type: Multi-family
Bedrooms: 6
Beds (above / below): 6 above · 0 below
Bathrooms: 3
Parking: 7
Interior Size: 1,300 ft²
Lot Size: 40 × 130 ft (5,200 sq ft)
Frontage: 40 ft
Storeys: 1
Style: Raised bungalow
Basement: Finished, Separate entrance, N/A, N/A
Heating: Forced air, Natural gas
Cooling: None
Garage: Detached Garage, Garage
Property Tax: $3,820/yr
Listed: 54 days ago

Features

Appliances: Water Heater
Foundation: Block
Exterior: Aluminum siding

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

54d

Niagara Falls (Cherrywood) listings, avg age

76d

Price / ft²

$445

List price

$579K

Haho

This 6-bed multi-family in Niagara Falls (Cherrywood) has been listed for 54 days, which is 22 days fresher than the city average of 76. Act while there is still low competition.

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Listed by REVEL Realty Inc., Brokerage · Vichit Altmann

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L2E)

This home lists at $579,000, about 9.5× the local median household income of $60,800.

Carrying it typically needs a household income of about $113,099 (20% down, 25-yr amortization, stress-tested) — roughly 86% above the area median.

Median household income: $60,800
Population: 18,587
Median age: 46.4
Owner / renter: 61% / 39%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA L2E)

$579,000· $445/ft²

For sale

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Full Cost Breakdown

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Down Payment5.68% · $32,900

Min 5.68%50%

Mortgage payment$3,028/mo

↳ CMHC premium ($21,844 capitalized)

Property tax (est.)$318/mo

Total monthly$3,346

Cash Needed to Close

Down payment (5.68%)$32,900

Land transfer tax$8,055

Est. closing costs$4,237

Total cash needed$45,192

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