For Sale: 4446 Morrison Street, Niagara Falls, ON - REW
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$550,000
0 bd • 0 ba • sf • Land/Lot
4446 Morrison Street
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$550,000
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4446 Morrison StreetNiagara Falls, ON, L2E 2B3

  • 0 Bed
  • 0 Bath
  • Sqft
  • Land/Lot

About this home

Rare Permit-Ready Multifamily Development Opportunity in a prime location within walking distance to Niagara University, City buildings, the new GO Transit station, and the international bridge to the USA.Fully approved site plan with building permit ready for construction of a six-unit residential rental project consisting of two semi-detached buildings. Each building includes three spacious three-bedroom units, including basement apartments, designed to meet strong and growing demand for larger family-oriented rental housing.The property benefits from a demolition permit already issued, which may result in reduced development charges compared to a typical new build. In addition, recent federal housing initiatives regarding HST on new residential construction may provide further financial advantages for qualified projects. Buyers are encouraged to conduct their own due diligence to fully understand applicable incentives, exemptions, and cost savings. Based on market rental estimates of approximately $2,200 per unit per month, the completed project may achieve gross annual rental income of approximately $158,400. Using standard vacancy and operating assumptions, the project presents the potential for strong long-term rental performance once stabilized. This offering presents an excellent opportunity for investors or developers seeking a small-scale multifamily project with approvals already in place, significantly reducing development timelines, entitlement risk, and potentially lowering overall development costs. A rare chance to acquire a fully entitled six-unit rental development in a high-demand and rapidly evolving area. (id:63626)
Listed by: SHIRZAD HAMADAMIN, Salesperson, RE/MAX NIAGARA REALTY LTD, BROKERAGE

Home facts and features

Price details
List Price
$550,000
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Home facts
Bedrooms
0
Full Bathrooms
0
Property Type
Land/Lot
Depth
150 feet
Frontage
50.0 feet
Agent details
Primary Agent
Primary Broker
RE/MAX NIAGARA REALTY LTD, BROKERAGE
Listing details
Days on REW
17 Days
MLS® Number
X13151780
Source
Canadian Real Estate Association
Board
Niagara Association of REALTORS®
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25 Years
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3.99%

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Property Insights

Simcoe Street Public School
  • Public
  • JK - 8
St Patrick Catholic Elementary School
  • Catholic
  • JK - 8
Valley Way Public School
  • Public
  • JK - 8
St Mary Catholic Elementary School
  • Catholic
  • JK - 8
ÉÉC Saint-Antoine
  • Catholic
  • JK - 8
É Élém LaMarsh
  • Public
  • JK - 8
Stamford Collegiate
  • Public
  • 9 - 12
John Marshall Public School
  • Public
  • JK - 8
St Gabriel Lalemant Catholic Elementary School
  • Catholic
  • JK - 8
Cherrywood Acres Public School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
SHIRZAD HAMADAMIN
Phone:
905-650-2341
Cell:
905-650-2341
Office:
905-687-9600
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