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$940,000
Niagara Falls
5749 Summer Street, Niagara Falls (Hospital), Ontario, L2G1M5
This multi-family property in Niagara Falls is for sale.
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. 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. (id:66096)
Features and services as supplied by the listing brokerage.
Long Listed: 154 days on market, against an average age of 113 days across the listings currently for sale in this city
This 10-bed multi-family in Niagara Falls (Hospital) is available now. Want me to connect you with the agent or keep you posted on any price updates?
Approximate location — exact address confirmed upon showing
This home lists at $940,000, about 13.6× the local median household income of $69,000.
Carrying it typically needs a household income of about $183,615 (20% down, 25-yr amortization, stress-tested) — roughly 166% above the area median.
Source: Statistics Canada, 2021 Census (FSA L2G)
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Loading rates, 30-yr amortization
Cash Needed to Close
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