402 Fares Street Port Colborne, ON L3K1X3

***Great Investment Opportunity*** Legal 2 Story 5 Unit Updated Brick/Siding Apartment Building On A Corner Lot In Port Colborne That Is Fully Tenanted To Be Assumed In Good Standing With Up-To Date Rents (5.3% Cap Rate). Additionally, There Is A 2+ Car Garage That Can Be Converted To An Additional Residential Unit For An Increased Cap Rate (7.7%) Which Has Existing Plumbing And Electricity (Process Started And Documents Available For City Approvals). One 3 Bedroom Unit/1 Bath, Two 2 Bedroom Units/1 Bath, And Two 1 Bedroom Units/1 Bath. All Fully Rented With Great Tenants. Parking For 5+ Cars, Plus On Road Parking Too. Entire Building Has Been Updated Within The Last Year With Fresh Paint, Flooring, Kitchens, C02 Detectors, Smoke Alarms Etc. Every Units Has Own Laundry Facilities With Additional Coin Laundry 300 Feet Away. Walking Distance To All Shopping, Schools, And Amenities. High Demand Area With Increasing Population, Ample Employment, And Friendly Proactive/Safe Community.**** EXTRAS **** Tenanted Property. Showing Times Are Restricted. Great Addition To Any Investors Portfolio With Positive Cash Flow And Opportunity To Convert Garage To Additional Legal Rental Living Space Resulting In An Increased Cap Rate Of 7.7% (id:41440)