310 St. Paul Street St. Catharines, Ontario L2R 3M9

$1,100,000

TREMENDOUS INVESTMENT OPPORTUNITY: ATTRACTIVE VTB MORTGAGE AT 6% FOR UP TO TWO YEARS WITH 300,000 DOWN PAYMENT. ALSO THE INSURANCE IS ALREADY IN PLACE FOR THE NEW OWNER WITH A QUICK ASSIGNMENT. Potential income:Existing tenant commercial $1,510/mo or $18,120 per year (net rent) New Tenant for restaurant $4,000/mo or $48,000 per year (net rent)New residential tenants (4) $8,000/mo or $96,000 per year (after renovations) grossTOTAL POTENTIAL RENT $13,510/MO OR $162,000 PER YEAR AFTER RENOVATIONSIn the vibrant heart of Downtown St. Catharines, THIS PRIME PROPERTY OFFERS AN EXCEPTIONAL INVESTMENT OPPORTUNITY. It features two commercial units on the ground floor, including a thriving restaurant and bar (estimated value over $200,000) with two upper-level apartments, each unit is equipped with its own gas furnace and separate hydro meters.This property features a spacious full basement, along with a 12-foot restaurant ceiling and a roof that was restored in 2010 with residential flat roofing. It offers 12 dedicated parking spots, providing excellent convenience and flexibility for residents or visitors. Additionally, the property is connected to municipal services, ensuring ease and comfort for both owners and tenants. While the apartments need updating and conversion costs to return to four units, the property strategic location ensures high visibility and accessibility, with parking at the rear for 10 vehicles and the potential to add more apartment units, this mixed-use property is poised for significant value appreciation and long-term profitability. DON'T MISS THE CHANCE TO INVEST IN A CORNERSTONE OF ONE OF NIAGARA'S MOST DYNAMIC MARKETS. The restaurant portion of the sale TBD is subject to HST. (id:53712)

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https://www.realtor.ca/real-estate/28116310/310-st-paul-street-st-catharines-451-downtown-451-downtown