map icon

42 Riverside Dr

Riverside Dr, West Main, Welland, ON, L3C 5E2

6
Beds
4
Baths
3,711
Sq. Ft.
$499,000
List Price
Details
Photos
16
Comparables
History
42 Riverside Dr, Welland, ON - 1 of 3
42 Riverside Dr, Welland, ON - 2 of 3
42 Riverside Dr, Welland, ON - 3 of 3
94 days on market

Quick Summary

  • Legal multi-unit property with 4 units on Welland River.
  • Vacant possession of all 4 units for immediate income.
  • Potential gross rent of $69,000/year after renovations.
  • Flat roof replaced in 2013, efficient boiler system.
  • Extensive interior renovations required for market rent.
  • Unique investment opportunity with high rental income.
  • Separate hydro meters for 2 units, shared for 2 units.
  • Walk-out entrance from lower level for added convenience.

Unique Investment opportunity with this legal Multi-Unit (4) located directly on the Welland River! *VACANT POSSESSION OF ALL 4 UNITS* Possibilities are endless with this 4 unit property consisting of 1 - 3 bedroom unit, 2 - 1 bedroom units, and a Bachelor unit. Separate hydro meters for unit 3 & 4, and shared hydro meter for unit 1 & 2.... Show More

Unique Investment opportunity with this legal Multi-Unit (4) located directly on the Welland River! *VACANT POSSESSION OF ALL 4 UNITS* Possibilities are endless with this 4 unit property consisting of 1 - 3 bedroom unit, 2 - 1 bedroom units, and a Bachelor unit. Separate hydro meters for unit 3 & 4, and shared hydro meter for unit 1 & 2. Walk out Entrance from Lower LeveL Flat Roof replaced in 2013. Heated by efficient boiler system. Building does need extensive work (update interior finishes throughout) to get current market rent values which are estimated at approximately $1800/month + hydro for 3 bed, $1600/month + hydro for each - 2 bedroom units, $750/month + hydro for Bachelor unit giving it a potential total gross rent of $5750/month or $69,000/yr! The potential of this property alone makes it worth a look to see if the numbers may work for you! Book your showing today! (id:54626)

Property Details

Size

3,711 sq. ft.
across 2 floors
6 Beds
4 Baths
4 Full

Parking

6 Parking Spaces
-

Lot

Size
540′ * 840′
Acres
-

Build

Year Built
1918
Model Name
-
Basement
Unfinished
Exterior
Vinyl siding
Foundation
Block
Builder Name
-
Stories
2
Flooring
-
Roof
-

Heating & Cooling

Heating
Radiant heat
Cooling
Wall unit

Utilities

Water
Municipal water
Sewer
Municipal sewage system
SHOW LESS

Ownership Details

Ownership

Title
Freehold
Zoning
-

Source

Listing Brokerage

MLS® Listing
40534390
Last Updated
April 22, 2024
Brokerage
REVEL Realty Inc., Brokerage
Powered by: REALTOR.ca
Call us 800-591-0566

Book A Private Showing

For Sale Nearby

39 Riverside Dr, Welland, ON
39 Riverside Dr
$729,000
Welland, ON, L3C 5C9
  • 2500 Sq. Ft.
  • 4
  • 4
10 Ridgewood Dr, Welland, ON
10 Ridgewood Dr
$949,900
Welland, ON, L3C 2G8
  • 2,603 Sq. Ft.
  • 4
  • 2
118 Colbeck Dr, Welland, ON
118 Colbeck Dr
$1,499,000
Welland, ON, L3C 7B2
  • 2,352 Sq. Ft.
  • 4
  • 2
25 Springhead Gardens, Welland, ON
25 Springhead Gardens
$619,000
Welland, ON, L3C 5A7
  • 2,188 Sq. Ft.
  • 3
  • 2
113 Maple Ave, Welland, ON
113 Maple Ave
$859,000
Welland, ON, L3C 5G2
  • 2,500 Sq. Ft.
  • 9
  • 8
113 Maple Ave, Welland, ON
113 Maple Ave
$859,000
Welland, ON, L3C 5G2
  • 9
  • 5
118 Denistoun St
$629,000
Welland, ON, L3C 5C3
  • 1800 Sq. Ft.
  • 4
  • 2
301 - 119 Lincoln St, Welland, ON
301-119 Lincoln St
$759,900
Welland, ON, L3C 6P8
  • 1,203 Sq. Ft.
  • 2
  • 2

Sold Nearby

46 Riverside Dr, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
46 Riverside Dr
$XXX,XXX
Welland, ON, L3C 5E2
  • 2
  • 2
54 Riverside Dr, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
54 Riverside Dr
$XXX,XXX
Welland, ON, L3C 5E2
  • 2
  • 2
17 Wade St, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
17 Wade St
$XXX,XXX
Welland, ON, L3C 5H5
  • 1,100 - 1,500 Sq. Ft.
  • 3
  • 2
24 Elmwood Ave, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
24 Elmwood Ave
$XXX,XXX
Welland, ON, L3C 2C8
  • 1,100 - 1,500 Sq. Ft.
  • 3
  • 2
43 Drew St, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
43 Drew St
$XXX,XXX
Welland, ON, L3C 5H8
  • 700 - 1,100 Sq. Ft.
  • 2
  • 1
106 Oakland Ave, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
106 Oakland Ave
$XXX,XXX
Welland, ON, L3C 2C1
  • 700 - 1,100 Sq. Ft.
  • 3
  • 2
112 Oakland Ave, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
112 Oakland Ave
$XXX,XXX
Welland, ON, L3C 2C1
  • 1,100 - 1,500 Sq. Ft.
  • 3
  • 1
103 Wilton Ave, Welland, ON
Sold Listing
Get verified. Local real estate boards require email verification.
103 Wilton Ave
$XXX,XXX
Welland, ON, L3C 2A1
  • 1,100 - 1,500 Sq. Ft.
  • 3
  • 1

The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.