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Royal LePage
Royal LePage
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$549,900

Fort Erie (Ridgeway) ON, L0S 1N0

MLS® # X12353708

Property Information:

Unlock the potential in this massive 3,840 sq. ft. brick 4-plex situated in a central Fort Erie location, oozing with potential. Located in downtown Ridgeway, only moments from shops, restaurants, the farmers market and recreational trails, these apartments will be very easy to rent. Each unit offers 2 bedrooms, some with original wood floors, with three currently rented and one vacant. The property features 5 separate hydro meters, 4 gas meters, and 4 individual gas furnaces, giving each tenant control over their own utilities. The full basement adds valuable storage or potential development space. The roof is approximately 7 years old, and the building sits on a solid foundation, ready for a visionary investor to restore it to its full glory. Sitting on a 53.15x198.54 lot, there may be future potential to expand this building or add a second building (Buyer to satisfy themselves). While this property will require significant work, the size, location, and existing rental income make it an outstanding value-add opportunity. Seize this chance to own a substantial income property in one of Fort Erie's most desireable areas! (id:27)

Building Features:

  • Style: Multiplex
  • Building Type: Fourplex
  • Amenities: Separate Hydro Meters
  • Basement Development: Unfinished
  • Basement Type: Full
  • Exterior Finish: Brick
  • Floor Space: 3500 - 5000 sqft
  • Foundation Type: Concrete
  • Heating Type: Forced air
  • Heating Fuel: Natural gas
  • Cooling Type: None
  • Appliances: Water meter

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 8
  • Bathrooms: 4
  • Amenities Nearby: Park, Schools
  • Community Features: School Bus
  • Features: Flat site
  • Floor Space (approx): 3500 - 5000 Square Feet
  • Irregular: Yes
  • Lot Size: 53.2 x 198 Acre
  • Utility Type: Cable - Installed, Hydro - Installed, Sewer - Installed
  • Zoning: R2
  • Sewer: Sanitary sewer
  • Parking Type: No Garage
  • No. of Parking Spaces: 8

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 3651 ELM STREET, Fort Erie (Ridgeway), Ontario, L0S 1N0

Demographic Information of 3651 ELM STREET, Fort Erie (Ridgeway), Ontario, L0S 1N0

Life Stage

Later Years

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$130,123.49

Average Number of Children

1.79

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

10.92 %

High school certificate or equivalent

36.77 %

Apprenticeship trade certificate/diploma

10.55 %

College/non-university certificate

27.72 %

University certificate (below bachelor)

0.24 %

University Degree

13.8 %

Commuter

Travel To Work

By Car

92.96 %

By Public Transit

0.0 %

By Walking

2.56 %

By Bicycle

0.0 %

By Other Methods

4.48 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

20.46 %

Houses

79.54 %

Own Vs. Rent

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