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$749,850
Welland
237 First Avenue, Welland (N. Welland), Ontario, L3C1Y7
This 3-bedroom, 2-bathroom home in Welland is for sale.
PERFECT MINI-DEVELOPMENT POTENTIAL!!! This is a promising development opportunity for investors keen on creating an eight-townhouse site within walking distance of Niagara College. This lot is ideal for either demolishing the existing house to construct eight affordable townhouses or subdividing into three 40-foot frontage lots. With the HST rebate currently available, there is strong demand for land to secure pre-sales. Concept plans suggest the possibility of eight townhouse lots at approximately $100,000 per lot, with an additional $50,000 allocated for consulting and necessary official plan and zoning by-law amendments. Pre-consultations are recommended for any development initiatives, whether for three lots or eight townhouses. A demolition estimate is also available, and tenants are amenable to staying until demolition is required. This is an excellent opportunity for development and land acquisition in a prime student area near Niagara College. Concept plans for townhouse or detached lots available. (id:66096)
Room details as supplied by the listing brokerage. Dimensions are shown in the unit the listing states, and are approximate.
Features and services as supplied by the listing brokerage.
Long Listed: 155 days on market, against an average age of 59 days across the listings currently for sale in this city
This 3-bed single family in Welland (N. Welland) 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 $749,850, about 9.6× the local median household income of $78,500.
Carrying it typically needs a household income of about $146,472 (20% down, 25-yr amortization, stress-tested) — roughly 87% above the area median.
Source: Statistics Canada, 2021 Census (FSA L3C)
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Loading rates, 30-yr amortization
Cash Needed to Close
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