$899,900

For sale

13 McMaster Avenue, Welland (Welland Downtown) - Multi-family for Sale

13 McMaster Avenue, Welland (Welland Downtown), Ontario, L3B3S6

8 beds5 baths5 parking4,250 ft²63 × 190 ft (11,970 sq ft) lot sizeListed 60 days ago

Overview

This multi-family property in Welland is for sale offering roughly 4,250 sq ft of space. It has been on the market 60 days, fresher than the Welland average of 89 days.

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Description

LEGALLY REGISTERED 5-PLEX ASSET WITH FANTASTIC INVESTMENT FLEXIBILITY! Welcome to 13 McMaster Ave, a purpose-built multi-residential property situated on a massive 63' x 190' lot with premium medium-density RM/RL2 zoning steps from the Welland Canal. This structurally efficient building features an ideal layout of two spacious, 2-bedroom units per floor, offering an excellent mix of baseline income stability alongside flexible buyer possession options. The ultimate equity play sits in the full, unfinished walk-up basement with separate exterior access; it is fully grandfathered and taxed by MPAC as a 5-plex, featuring intact plumbing rough-ins where the 5th unit previously sat. Rebuild the 5th suite to instantly scale your asset valuation while completely avoiding costly municipal development fees. Property is being sold in as-is condition, allowing you to execute your own custom updates, capitalize on realistic market rent targets of $1,800/month, and maximize your forced-equity margins in a top Niagara rental pocket. Perfect for an investor looking for a value-add project with incredible structural bones or a buyer looking for a multi-generational setup. (id:66096)

Property Details

MLS®: X13747618
Property Type: Multi-family
Zoning: RL2, RM
Bedrooms: 8
Beds (above / below): 8 above · 0 below
Bathrooms: 5
Parking: 5
Interior Size: 4,250 ft²
Lot Size: 63 × 190 ft (11,970 sq ft)
Frontage: 63 ft
Storeys: 2
Basement: Partially finished, Full, Separate entrance, N/A, N/A
Heating: Radiant heat, Natural gas
Cooling: None
Garage: No Garage
Property Tax: $5,571.59/yr
Listed: 60 days ago

Features

Appliances: Refrigerator, Stove
Foundation: Block
Exterior: Brick, Vinyl siding
Lot Features: Irregular lot size, Ravine, Sump Pump

Services

Water: Municipal water
Sewer: Sanitary sewer

Features and services as supplied by the listing brokerage.

Market Timing

Days on market

60d

Welland (Welland Downtown) listings, avg age

89d

Price / ft²

$212

List price

$900K

Haho

This 8-bed multi-family in Welland (Welland Downtown) has been listed for 60 days, which is 29 days fresher than the city average of 89. Act while there is still low competition.

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Listed by RE/MAX ESCARPMENT REALTY INC. · ANIL VERMA

Location

Approximate location — exact address confirmed upon showing

Nearby Places

Area context

Neighbourhood profile (L3B)

This home lists at $899,900, about 13.5× the local median household income of $66,500.

Carrying it typically needs a household income of about $175,782 (20% down, 25-yr amortization, stress-tested) — roughly 164% above the area median.

Median household income: $66,500
Population: 25,869
Median age: 43.2
Owner / renter: 66% / 35%
Avg. household size: 2.3

Source: Statistics Canada, 2021 Census (FSA L3B)

$899,900· $212/ft²

For sale

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Full Cost Breakdown

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Down Payment7.22% · $64,990

Min 7.22%50%

Mortgage payment$4,629/mo

↳ CMHC premium ($33,396 capitalized)

Property tax (est.)$464/mo

Total monthly$5,093

Cash Needed to Close

Down payment (7.22%)$64,990

Land transfer tax$14,473

Est. closing costs$5,200

Total cash needed$84,663

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