22 & 24 River Street Thorold, Ontario L0S 1K0

$1,395,000

This Rare 9-Unit Multi-Residential Investment property in Thorold offers a storybook setting at 22 & 24 River Street which is located in the historic hamlet of Port Robinson, situated on the east bank of the Welland Canal. 2nd Floor tenants in the front enjoy a view of the Canal as the ships go by. 7 out of 9 Units have been updated . Rental prices consists of (1) -3 Bedroom $1500*. (5)-2 Bedrooms,$1450. ,$1300, $1290, $950, & $630 (Live-In Super) $1450 will be the new rental price of the one vacant unit. (2)-1 Bedrooms $1150, $935** (1) Bachelor $950.Yearly Rental income for 2025 $91,060 including vacancy. Net Operating Expenses $60,000. Coin Laundry $2500 income Yr. 8 out of 9 units pay their own Hydro being separately metered! Residential License for both Properties til Feb 2028! 1/2 Roof was replaced in 2024 Bills included other half is in descent condition. There are 2-Natural Gas furnaces which cover 2 units the Seller pays for. Expenses : (3) Water Rental Tanks Rentals $1750 yearly, Gas $2300, Water $1500, Hydro $2800, Maintenance is around $2500 .Insurance $6350. Property Valued at $155,000 per Unit x 9 units, based on 32 and 34 River Street selling at $162,500 given it was a newer property just a couple of months ago, on the same street 2 doors away. Less than 1 % of properties in Thorold are multi-residential . So this is a good opportunity to own this 9-Unit investment property at a fantastic price. Seller is willing to Take Back Financing with 20% Down payment !!! Inspection Report will be available monday April 20th, by a Certified Master Inspector. Thank you (id:55460)

Property Details

MLS® Number	X13002648
Property Type	Multi-family
Community Name	561 - Port Robinson
Amenities Near By	Hospital, Park, Place Of Worship
Features	Conservation/green Belt, Sump Pump
Parking Space Total	9
Structure	Shed

Building

Bathroom Total	9
Bedrooms Above Ground	16
Bedrooms Total	16
Amenities	Separate Electricity Meters
Appliances	Water Meter
Basement Features	Apartment In Basement
Basement Type	N/a
Cooling Type	Window Air Conditioner
Exterior Finish	Concrete, Vinyl Siding
Fireplace Present	Yes
Foundation Type	Concrete
Heating Fuel	Electric
Heating Type	Baseboard Heaters, Forced Air, Not Known
Stories Total	2
Size Interior	5,000 - 100,000 Ft2
Type	Other
Utility Water	Municipal Water

Parking

No Garage

Land

Acreage	No
Fence Type	Partially Fenced
Land Amenities	Hospital, Park, Place Of Worship
Size Depth	159 Ft ,8 In
Size Frontage	89 Ft ,4 In
Size Irregular	89.4 X 159.7 Ft
Size Total Text	89.4 X 159.7 Ft|under 1/2 Acre
Surface Water	River/stream

Utilities

Cable	Installed
Electricity	Installed
Sewer	Installed

https://www.realtor.ca/real-estate/29609450/22-24-river-street-thorold-port-robinson-561-port-robinson