15 WELLINGTON ST Save Request In-Person Tour Request Virtual Tour
St. Catharines,ON L2R 5P7
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,650 sqft
Price per Sqft $194
MLS Listing ID X9411911
Annual Tax Amount $5,424
Tax Year 2023
Property Description
Prime investment opportunity in the heart of downtown St. Catharines. This 18-room rental property spans a total gross floor area of +/-6651 sq.ft (618 sqm). Currently rented at $500 - $875 per room, with potential to add another room, this building offers a robust income stream with multiple opportunities for optimization.
The property is equipped with fibre optic internet infrastructure, providing reliable, hardwired connections to every bedroom. Security features include trackable key card and punch code entry at each exterior door, with locked doors for every bedroom. Located only 900 meters from the St. Catharines bus terminal (a 12-minute walk), the property is situated in a highly walkable neighborhood close to various amenities.
Building construction is resilient to damage, ensuring minimal maintenance and straightforward property management. There are significant opportunities to enhance net operating income through streamlined operations, tenant demographic adjustments, and other efficiencies.
Property includes full kitchen and laundry facilities on each floor. The upper level features 10 bedrooms, 3 full baths, 1 individual shower, and 1 half bath. The lower level houses 8 bedrooms with potential for a 9th, along with 3 individual showers and 3 half baths.
Location
Province ON
County Niagara
Zoning C1-93
Rooms
Basement Finished,Full
Kitchen 0
Interior
Interior Features None
Cooling Central Air
Inclusions 18 Fridges, 2 Stoves, 2 Washers, 2 Dryers, Carbon Monoxide Detector, Microwave, Smoke Detector, Window Coverings
Laundry Common Area,Shared,Coin Operated
Exterior
Garage Spaces 3.0
Pool None
Community Features Public Transit
Utilities Available Unknown
Roof Type Flat
Total Parking Spaces 3
Building
Foundation Concrete Block
New Construction false
Others
Senior Community No
Security Features Unknown