5-Plex in Welland

Wholesale Price: $410,000 (Or Best Offer)
Closing Date: September 14, 2020

Check out this 5-plex Multi-Family in Welland. Just Over $80,000 per door!! The property is close to restaurants, banks, and everything else near downtown.

5 unit multi-family property in downtown Welland. All 5 units are 1-bedroom. 4-plexes in Welland are selling for $499,000 so you don’t want to miss this amazing opportunity. All of the 5 units are currently tenant occupied.

The owner is putting a new fire rated door as suggested by Fire Inspector and then will call the inspector for fire inspection. The property will come fully tenanted.

Please note, with COVID-19 we were unable to enter the units and take photos. We currently have photos of the exterior and common areas for each building. All income and expense statements are available in the Income & Expenses link below. Please contact us for any further information needed in your due-diligence, showings are available to see each unit.

Property Features for Building:

Features:
– All Units are 1bedroom 1bathroom
– Roof (2010-2011 approximate)
– The majority are Vinyl windows (Were Updated after owner acquired in 2014)
– Baseboard heating – Water Broiler
– 1 water heater (Rental)
– Owner pays hydro

– RM zone allows multi-family dwellings

– Built in 1925

-Fully rented on possession
-Lot Size – 53′ Frontage x 50′ Deep
-Block Foundations
-Fire Inspection – Owner is placing one fire rated door and will schedule Fire Inspection after
-Hard Wired Smoke and Carbon Monoxide Detectors
-Electrical – ESA certified when Owner bought in 2014. No knob and tube as per owner.
-Water Heater – Rental
-Plumbing – PEX and some old Copper
-Detached Storage Garage

Current Monthly Income

Unit 1 – $550

Unit 2 – $600

Unit 3 – $600

Unit 4 – $700

Unit 5 – $700

There has been no rent raises so you can raise rents on all units or get tenants out for cash for keys.

TOTAL = $ 3150

Current Monthly Expenses:

Taxes: $250

Utilities: $500

Insurance: $250

Maintenance 5%: $150

Vacancy 3%: $100

Other expenditures 3%: $100

Total Monthly Expenses:$1330

If you are interested in this property, or want to be added to our buyers list, please contact Arun:

By phone from 9am-6pm:
416-802-0368

Email anytime at:
arun@shanayaproperties.com

Serious buyers only. Walk-through appointments only one time to check the property if you are 99% certain you will submit an offer on the property.

***Realtors, add your commission on top and please bring us a buyer!!***

Disclaimer: The information in this email is through ShanayaProperties analysis only. We are not realtors, inspectors or appraisers and we ask that you do your own due diligence on this property as the buyer. We have zero intentions in providing incorrect statements to our investors. All properties come as-is.

Our mailing address is:

Brampton, Canada

5-Plex in Welland Assigned

5-Plex in Welland

Call (647) 277-5045 for more details

Property Location