Property Description

Are you seeking an exceptional investment opportunity in the flourishing city of St. Catharines, Ontario? Look no further than this remarkable property that combines five vacant residential units, an operational laundromat business, and immense potential for growth and profitability.

Property Highlights:

Situated in a prime downtown location, this property boasts two spacious one-bedroom units and three versatile bachelor suites ready for the next astute investor or buyer. Additionally, the property features a laundromat on the main floor, which is currently in operation with an impressive array of 21 washer and dryer units.

The potential for further expansion is evident, with an opportunity to add a sixth unit in the basement, elevating the property’s income potential.

Key Features:

• Updated Systems: The property’s boiler systems are modern and fully updated, ensuring efficiency and reliability for future occupants.
• Future Redevelopment Potential: Being a detached property situated on a main thoroughfare in the city, this gem holds tremendous future redevelopment possibilities. Surrounding properties’ plans for redevelopment further enhance its long-term value.
• Investment Benefits: Bult with all necessary permits (Building, ESA, Fire Compliance), this property offers an excellent cash flow opportunity. Each unit’s upgraded heating system, including a multi-stage boiler system with Tekmar Controls and individual remote thermostats, guarantees tenant comfort and efficiency.
• Parking Convenience: Providing parking space for six cars, this property offers convenience and value for tenants and potential customers of the laundromat.

Pricing and Investment Opportunity:

Priced based on a 6.5% cap rate, this property presents an irresistible opportunity for the right investor seeking a lucrative addition to their portfolio. The combination of residential units, an operational business, and the potential for future growth makes it an attractive buy in the burgeoning St. Catharines real estate market.

Conclusion:

This property is a beacon of opportunity for investors looking to capitalize on St. Catharines’ growth trajectory. Its mix of residential units, an established laundromat business, updated systems, and future redevelopment potential make it an enticing prospect for those seeking a profitable real estate venture.

Contact us now to explore this incredible investment opportunity and seize the potential for substantial returns in St. Catharines’ bustling real estate landscape!

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