Cross Streets: Louis St & Mitchell St. ** Directions: HWY 140 , right on Main St, Left on Welland St, Left on Durham St, right on Mitchell St. Excellent opportunity to acquire a multi-property residential investment portfolio in the growing community of Port Colborne. This offering includes three separate buildings with a total of eight residential units located at 220 Mitchell St., 224 Mitchell St., and 59 Louis St., providing strong current income with additional value-add potential. 224 Mitchell Street (4 units): Currently configured with three fully renovated one-bedroom units plus one that is currently under renovation presenting significant upside once completed. 220 Mitchell Street (2 units): Two one-bedroom units, both currently tenanted at $1,250 per month, generating $2,500 in monthly income. 59 Louis Street (2 units): One one-bedroom unit currently generating $700 per month and one unit currently vacant with a previous rent of $1,050 per month. The property also features a detached garage and additional storage shed, providing further tenant convenience and potential rental value. Across the portfolio there are six renovated and tenanted units and two vacant units ready for finishing and re-tenanting. The current combined gross monthly income from occupied units totals $6,850, with potential gross income of $7,900 per month once both vacant units are filled. Major capital improvements have been completed across the properties, including roof replacements (2015), updated windows, exterior siding, soffits, eavestroughs, and plumbing upgrades, helping reduce near-term maintenance concerns. Plumbing repairs have also been completed in the vacant units. With eight units across three buildings, this package presents a compelling opportunity for investors seeking a stabilized asset with additional redevelopment and rental upside. Conveniently located close to amenities, parks, and the historic Welland Canal corridor, which continues to support growth and revitalization in the area. (id:27476)
