$899,990

For sale

610 ELM Street, Port Colborne - Multi-family for Sale

610 ELM Street, Port Colborne, Ontario, L3K4P6

8 beds5 baths11 parking3,696 ft²Listed 65 days ago

Overview

This multi-family property in Port Colborne is for sale offering roughly 3,696 sq ft of space. It has been on the market 65 days, fresher than the Port Colborne average of 90 days.

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Description

Incredible investment opportunity. This Triplex is currently leased out to fantastic tenants. Each unit has their own designated driveway parking, individual fenced yards, and separate entrances. Unit 1 offers 5 bedrooms, 2 bathrooms, bedroom level laundry and a massive primary bedroom with ensuite. Unit 2 is a bright and cozy 1 bedroom unit with a large bedroom, full kitchen and great size living room. This unit also has carport parking. Finally Unit 3 offers 2 bedroom 2 bathrooms, a large living room, primary bedroom with ensuite and patio doors leading to the private yard. Large kitchen with plenty of cupboard space. This unit also includes the 1 car garage. (id:66096)

Property Details

MLS®: 40859471
Property Type: Multi-family
Zoning: R2
Bedrooms: 8
Bathrooms: 5
Parking: 11
Interior Size: 3,696 ft²
Frontage: 98 ft
Units: 3
Year Built: 1875
Storeys: 2
Basement: Unfinished, Full
Heating: Heat Pump, Radiant heat, Other
Cooling: Ductless
Garage: Detached Garage, Carport, Open
Ownership: Freehold
Property Tax: $4,060/yr
Listed

Features

Appliances: Central Vacuum
Foundation: Stone
Exterior: Vinyl siding

Services

Water: Municipal water
Sewer: Municipal sewage system

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

65d

Port Colborne listings, avg age

90d

Price / ft²

$244

List price

$900K

Haho

This 8-bed multi-family in Port Colborne has been listed for 65 days, which is 25 days fresher than the city average of 90. Act while there is still low competition.

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Listed by RE/MAX Escarpment Realty Inc. · Andrew Springstead

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L3K)

This home lists at $899,990, about 12.9× the local median household income of $70,000.

Carrying it typically needs a household income of about $175,800 (20% down, 25-yr amortization, stress-tested) — roughly 151% above the area median.

Median household income: $70,000
Population: 19,458
Median age: 50.8
Owner / renter: 73% / 27%
Avg. household size: 2.2

Source: Statistics Canada, 2021 Census (FSA L3K)

$899,990· $244/ft²

For sale

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Full Cost Breakdown

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Down Payment7.22% · $64,999

Min 7.22%50%

Mortgage payment$4,629/mo

↳ CMHC premium ($33,400 capitalized)

Property tax (est.)$338/mo

Total monthly$4,968

Cash Needed to Close

Down payment (7.22%)$64,999

Land transfer tax$14,475

Est. closing costs$5,200

Total cash needed$84,674

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