$16,900,000 259 St. Paul Street, St. Catharines, Ontario, L2R3M7

Overview

Property Type: Business
Leadex ID: 21367073

Description

BEAUTIFULLY RENOVATED 75 UNIT APARTMENT BUILDING PLUS 5 NEW RESTAURANTS. ALL NEWER APARTMENTS, NEW ELECTRICAL, PLUMBING, HVAC, INDIVIDUAL HEAT PUMPS, WINDOWS, KITCHENS, BATHROOMS, CERAMIC FLOORS, INSTITUTIONAL GRADE INVESTMENT PROPERTY SHOWS A GUARANTEED 5% CAP RATE, 10.50% RETURN ON INVESTED CAPITAL AND A 14.85 % INTERNAL RATE OF RETURN. A PRIME INVESTMENT IN THE HEART OF THE ENTERTAINMENT DISTRICT DOWNTOWN ST. CATHARINES. EXISTING FINANCING @2.45%. SELLER WILL MANAGE PROPERTY. POTENTIAL TO ADD 7 FLOORS; 70 APARTMENTS WITH A POTENTIAL ADDITIONAL INCOME OF $48,000 PER YEAR. (id:18021)



Building

Cooling

Air Conditioned

Utility Sewer

Sanitary sewer

Water

Municipal water

Details

Ammenities Nearby

Public Transit, Recreation

Community Features

Community Centre

Parking Spaces

0

Parking

No Garage

Zoning Description

C5

Land

Land Size

0.3 ac|under 1/2 acre

Frontage

127 ft

Land Depth

110 ft

Listing Office

Office

RE/MAX GARDEN CITY REALTY INC, BROKERAGE

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