For Sale: 22-24 River Street, Thorold, ON - REW
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$999,000
16 bd • 9 ba • 5000 - 99999 sf • Multifamily
22-24 River Street
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$999,000
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22 & 24 River StreetThorold, ON, L0S 1K0

  • 16 Bed
  • 9 Bath
  • 5000 - 99999 Sqft
  • Multifamily

About this home

FINAL REDUCTION VENDOR MUST SELL!! 9 Unit Multi Residential Investment property producing annually $121,860 Gross Revenue, expenses $61,000 with Return on investment at 61,000/999000= 6.1% currently. Great potential to produce $198,000 in Gross Revenue less $61,000 expenses having a return on Investment at 137,000/999,000=13.8% by Increasing the rents to market Rent Prices. Rents have been low in the building due to long standing tenants and a very generous owner. Please compare rental rates in Thorold Proper compared to the historic hamlet of Port Robinson where the building is situated demanding greater prices because of low density (no competition) and the serene natural beauty sitting perched upon the East bank of the Welland Canal with a view of the ships passing the property directly in front. The Owner is willing to Hold a First Mortgage for $600,000 for 2 years at 4.5% Won't Last Long!! Below the AVM amount. (id:63626)
Listed by: ROBERT F. PARRO, Salesperson, RE/MAX SUCCESS REALTY

Home facts and features

Price details
List Price
$999,000
Get Pre-Approved
Gross Taxes for 2025
$9,463
Home facts
Bedrooms
16
Full Bathrooms
9
Parking Spaces
9
Parking Details
No Garage
Property Type
Multifamily
Lot Size
89 ft x 159 ft (14277 ft²)
Depth
159.7 feet
Frontage
89.4 feet
Exterior Finish
Concrete, Vinyl siding
Heating Type
Baseboard heaters, Forced air, Electric
Cooling
Window air conditioner
Basement Details
Apartment in basement,
Features
Conservation/green belt, Separate Electricity Meters, Sump Pump
Appliances
Water meter
Agent details
Primary Agent
ROBERT F. PARRO
Primary Broker
RE/MAX SUCCESS REALTY
Listing details
Days on REW
187 Days
Property Views
22
MLS® Number
X13002648
Source
Canadian Real Estate Association
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The displayed rates are provided as guidance only, are not guaranteed, or are to be considered an approval of credit. Approval will be based solely on your personal situation. You are encouraged to speak with a Mortgage Professional for the most accurate information and to determine your eligibility.

Property Insights

Jean-Vanier School
  • Catholic
  • 7 - 12
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Call Agent
Salesperson
Robert Parro
Phone:
(416) 700-2787
Cell:
416-700-2787
Office:
905-209-7400
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