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48-50 Courtwright Street Fort Erie, Ontario L2A 2R7

7 Bedroom 4 Bathroom 3552
None Forced Air

$599,000

ATTENTION INVESTORS!!! Introducing an incredible investment opportunity. A well-maintained 4-plex for sale with a CAP Rate of 7.2%! This property boasts 4 separate units. One one-bedroom and three two-bedroom apartments, all fully leased with excellent tenants. The property generates $54,000 in annual income, with an NOI of $43,350 after expenses. With the potential to raise rental prices to market value, this investment has the added advantage of providing even greater profits in the future. Tenants pay heat and hydro; water is covered by the Landlord. The 1-bedroom unit located on the lower level boasts an open-concept layout and features updated kitchen cabinets. Meanwhile, the upper unit boasts newly installed flooring. The right wing of the four-unit residential building comprises two additional units. The spacious lower unit offers two generously proportioned bedrooms, a den, an eat-in kitchen with recently replaced cabinets, and an exceptionally large living room. The 4-plex is situated in a prime location with access to major highways and situated minutes from the US border. With a solid income stream and stable tenancy this is an amazing opportunity that investors should not pass up. (id:38729)

Property Details

MLS® Number 40471568
Property Type Multi-family
Equipment Type Water Heater
Features Crushed Stone Driveway
Parking Space Total 4
Rental Equipment Type Water Heater

Building

Bathroom Total 4
Bedrooms Total 7
Basement Development Unfinished
Basement Type Full (unfinished)
Cooling Type None
Exterior Finish Metal, Vinyl Siding
Foundation Type Block
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 3552
Type Fourplex
Utility Water Municipal Water

Parking

None

Land

Acreage No
Sewer Municipal Sewage System
Size Depth 135 Ft
Size Frontage 77 Ft
Size Total Text Under 1/2 Acre
Zoning Description Rm2

https://www.realtor.ca/real-estate/25966927/48-50-courtwright-street-fort-erie

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