224 Mitchell Street Port Colborne, Ontario L3K 1Y3

$699,000

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 7 finished residential units + 1 undeveloped area located at 220 Mitchell St., 224 Mitchell St., and 59 Louis St., providing strong current income with additional value-add potential. 224 Mitchell Street: Configured with three renovated and tenanted one-bedroom units, plus an undeveloped upstairs area offering future value-add potential (buyers to complete their own due diligence regarding permitted use, zoning, and any required approvals). 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, one vacant unit at 59 Louis St ready for re-tenanting, and an undeveloped upstairs area at 224 Mitchell with future income potential. 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. 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:61215)

Property Details

MLS® Number	X12887386
Property Type	Multi-family
Community Name	876 - East Village
Equipment Type	Water Heater
Parking Space Total	4
Rental Equipment Type	Water Heater

Building

Bathroom Total	7
Bedrooms Above Ground	11
Bedrooms Total	11
Age	100+ Years
Basement Type	Partial
Cooling Type	None
Exterior Finish	Vinyl Siding
Foundation Type	Block
Heating Fuel	Electric, Natural Gas
Heating Type	Baseboard Heaters, Forced Air, Not Known
Stories Total	2
Size Interior	5,000 - 100,000 Ft2
Type	Other

Parking

No Garage

Land

Acreage	No
Sewer	Sanitary Sewer
Size Depth	90 Ft
Size Frontage	60 Ft ,3 In
Size Irregular	60.3 X 90 Ft
Size Total Text	60.3 X 90 Ft
Zoning Description	R3

https://www.realtor.ca/real-estate/29475740/224-mitchell-street-port-colborne-east-village-876-east-village