About Property

A Rare Twin Semi Detached 4-Plex with City Rental . Permits which are transferrable! 34River St.-upper unit$1600./mo. 1030SqFt 3Bedroom1Bath. 32River St-UpperUnit.$1300./mo. 1030SqFt 3Bedroom1Bath. 32River St.-Lower Unit-$1400./mo. 1030Sq Ft. 3-Bedroom 1Bath. 34 River St.-lower unit $665./mo. 600SqFt 1-Bedroom1Bath. 34River St-office unit $ 50./mo. TOTAL $5015/mo .....$60,180.00 Gross Income. Operating Costs: Property Taxes: $5765.00('25). WaterBill (owner)$2576.50('24). Insurance : $3199.02 ('24). Maintenance. $2450.00.('24). Total.Operating Costs : $13,990.52. Net Operating Income $46,189.48.approx. Cap Rate: 46,189.48/820,000=0.0563 or 5.6%. Tenants Pay their own Hydro and Gas. Owner pays for Water. All leases are Month to Month. All separately metered. The only unit that has gas is 32 Lower Unit.The other units have base board heaters. Please note there are some income arrears for one of the units and they are trying to remedy this by repaying a portion back each month until paid in full. ***NEW ROOF 2024*****NEW FRONT PORCH 2021****32 LOWER UNIT NEW FURNACE INSTALLED 2015****NEW DECK PATIO 2019****ALL NEW WATER TANKS 5 YEARS AGO OWNED. NEW Floor plus Apartment facelifts by unit and date. 32 Upper Renovated 2017. 32 Lower Renovated 2020. Upper........2019. Lower Renovated 2019. Office Unit......2015. Building is Only 30 years old. Property located in a scenic Village Setting! Close to Brock University 7 min. and Niagara College 14 min. Very Close to the Welland Canal's twinned flight locks where ships climb the mountain!! Great tourist attraction. Approx. 3800 Sq Ft of Total Living Space !!!!!

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