LOADING

224 Mitchell Street Port Colborne (876 - East Village), Ontario L3K 1Y3

4000 sqft

Other

$999,000

8 UNIT MULTIPLEX! INCREDIBLE MULTI-UNIT INVESTMENT OPPORTUNITY IN PORT COLBORNE!Discover the potential of 220-224 Mitchell & 59 Louis, a unique multi-property package featuring three separate dwellings including two duplexes and a fourplex for a total of eight units! This cash-flowing investment boasts six fully renovated and rented units, one rented but unrenovated unit, and one gutted unit approved for a five-bedroom rooming house.224 Mitchell (Fourplex): Three renovated 1-bed units plus one gutted 5-bed unit, generating $3,700/month (with major upside once the 5-bed unit is completed).59 Louis (Duplex): A 1-bed unit and a bachelor unit, generating $1,700/month, plus a garage and shed for additional value.220 Mitchell (Duplex): Two 1-bed units, each rented at $1,250, bringing in $2,500/month.Total gross rental income of $7,900/month, with significant potential for increased cash flow once the unfinished unit is completed. All three properties have newer roofs (2015), updated windows, siding, soffits, eaves, and modernized plumbing for peace of mind. The city recognizes seven units, making this a rare and highly lucrative investment opportunity with both strong current income and future appreciation potential! (id:47878)

Property Details

MLS® Number	X11968152
Property Type	Multi-family
Community Name	876 - East Village
Parking Space Total	2

Building

Heating Type	Other
Size Exterior	4000 Sqft
Size Interior	4000 Sqft
Type	Multi-family
Utility Water	Municipal Water

Land

Acreage	No
Size Depth	90 Ft
Size Frontage	60 Ft ,3 In
Size Irregular	Bldg=60.28 X 90 Ft
Size Total Text	Bldg=60.28 X 90 Ft
Zoning Description	R3

Aerial

https://www.realtor.ca/real-estate/27904185/224-mitchell-street-port-colborne-876-east-village-876-east-village

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Data Provider
Niagara Association of REALTORS®

Listing Office
RE/MAX Niagara Realty Ltd, Brokerage

Listing Updated
February 11 2025 09:24:49