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29 Afton Avenue Welland, Ontario L3B 1V6

8 Bedroom 4 Bathroom 3220 sqft
Central Air Conditioning Forced Air

$1,299,900

Built in 2021 by Mountainview, this building is a turn-key investment and the perfect opportunity to take over this newly constructed multi-plex that is fully leased with great tenants and potential to finish 2 more units in the basement with large egress windows! All units are separately metered for gas and hydro which is paid for by the Tenants. Each unit is 2 bedrooms, 1 bathroom with in-suite laundry, it's own furnace, central air conditioner, hot water heater, a full kitchen with stainless steel fridge, stove & dishwasher and bright open living space measuring 805 sqft each. There is potential to complete the lower level two units that replicate the other 4 units, potentially making this a 6-plex. The exterior walls in the basement are insulated and the water is all plumbed-in. There are a total of 6 off-street parking spots, one assigned for each unit. Security cameras installed on exterior of building. Start your retirement plan earning passive income from this great opportunity! The landlord currently has a 5% cap rate and potential for 8% once the lower two units are completed and leased. Landlord pays water/sewer, property tax, property insurance & snow removal. Security cameras are installed on perimeter of building working off wifi. Floor plans are available. (id:49109)

Property Details

MLS® Number 40599915
Property Type Multi-family
Amenities Near By Golf Nearby, Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Community Features Quiet Area, Community Centre, School Bus
Equipment Type Water Heater
Features Shared Driveway
Parking Space Total 6
Rental Equipment Type Water Heater

Building

Bathroom Total 4
Bedrooms Total 8
Basement Development Unfinished
Basement Type Full (unfinished)
Constructed Date 2021
Cooling Type Central Air Conditioning
Exterior Finish Vinyl Siding
Foundation Type Poured Concrete
Heating Fuel Natural Gas
Heating Type Forced Air
Stories Total 2
Size Interior 3220 Sqft
Type Fourplex
Utility Water Municipal Water

Land

Access Type Highway Access
Acreage No
Land Amenities Golf Nearby, Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Sewer Municipal Sewage System
Size Depth 130 Ft
Size Frontage 45 Ft
Size Total Text Under 1/2 Acre
Zoning Description Rl2, Rm

https://www.realtor.ca/real-estate/26993746/29-afton-avenue-welland

Interested?

Contact us for more information


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Rebecca Scarlett
Broker

(289) 926-0130
(905) 892-8152
rebecca-scarlett.c21.ca/

Century 21 Today Realty Ltd, Brokerage
1027 Pelham St,p.o.box 29
Fonthill, Ontario L0S 1E0

(905) 892-2632
(905) 892-8152
www.century21today.ca/

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