Property Information:

Presenting a rare and compelling investment opportunity at 247 King Street in the heart of Welland, a well-positioned 4-plex offering three fully residential apartments and one versatile commercial unit, all situated on one of the city's most recognized and high-traffic corridors. The three residential apartments are each spacious two-bedroom, one-bathroom units, ideal for attracting long-term tenants such as young professionals, students, and families who are drawn to the convenience and energy of downtown Welland living. Loads of potential with this property with an unfinished basement space that can be renovated into a 5th unit with exceptional value-add potential, presenting a savvy investor with the opportunity to develop additional storage, utility, or future living space. A two-car garage currently configured as a functional workshop adds further flexibility to the property, whether retained for tenant use, leased separately, or repurposed to suit a new owner's vision. The commercial unit, presently operating as professional office space, rounds out this income-generating package with a steady and established presence, making the overall property a true mixed-use asset with four streams of potential revenue. Another option would be re-creating the commercial unit into residential living. Situated on King Street directly near Merritt Park and its multi-use amphitheatre , the property enjoys outstanding walkability and access to the local amenities that make downtown Welland so desirable including restaurants, banks, medical offices, and public transit stop just steps from the front door. Niagara College is within approximately five kilometres , ensuring consistent rental demand from students and college staff year round. Whether you are an experienced investor looking to expand your portfolio or a first-time buyer seeking a property with immediate income and long-term upside. (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Basement Development: Unfinished
Basement Type: Full
Exterior Finish: Brick
Floor Space: 4200 sqft
Foundation Type: Block
Heating Fuel: Natural gas

Property Features:

OwnershipType: Freehold
Property Type: Multi-family
Amenities Nearby: Hospital, Park, Playground, Public Transit, Shopping
Community Features: School Bus
Features: Paved driveway, Crushed stone driveway
Floor Space (approx): 4200 Square Feet
Lot Depth: 116 Feet
Lot Frontage: 66 Feet
Zoning: DMC, RM
Sewer: Municipal sewage system
Parking Type: Attached garage, Open
No. of Parking Spaces: 6

Courtesy of: Real Broker Ontario Ltd.

More Detail

Less Detail

Demographic Information of 247 KING Street, Welland, Ontario, L3B 3J9

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$67,680.48

Average Number of Children

1.62

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.68 %

High school certificate or equivalent

37.24 %

Apprenticeship trade certificate/diploma

7.88 %

College/non-university certificate

22.63 %

University Degree

7.56 %

Commuter

Travel To Work

By Car

80.4 %

By Public Transit

1.21 %

By Walking

5.81 %

By Bicycle

1.14 %

By Other Methods

11.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

54.37 %

Houses

45.63 %

247 KING Street, Welland, Ontario, L3B 3J9