22 & 24 River Street Thorold, Ontario L0S 1K0

$1,275,000

This is a Great Opportunity to acquire this Rare 9-Unit Multi-Residential Investment property in Thorold which offers currently $60,000 net operating Income yearly but the potential to increase to $72,000+net income when the 2 Bedroom becomes rented for $1450./mo. 22-24 River Street which is located in the historic hamlet of Port Robinson, Thorold is situated on the east bank of the Welland Canal. 2nd Floor front tenants enjoy a view of the Canal as the ships go by. 7 out of 9 Units have been updated ! 8 out of 9 units pay their own Hydro being separately metered! Residential License for both Properties til Feb 2028! New Gravel was laid down the private driveway and all through the back area where the 9 car parking is. Half the Roof was replaced in 2024 (Bill included). Vendor will hold a first mortgage with 15% Down Payment and is Motivated to sell since he will be retiring after owning the building for a decade. (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