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$ 1,840,000
Est. payment /mo
New
664 King & 24 Charles ST Port Colborne, ON L3K 4H8
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 877 - Main Street
MLS Listing ID X12727236
Annual Tax Amount $7,578
Tax Year 2025
Property Sub-Type Investment
Property Description
Exceptional new-build, Sixplex offering a rare blend of strong cash flow and modern luxury. This turnkey investment delivers a solid 6.00% cap rate on entry, based on conservative CMHC underwriting metrics. The asset was built as two triplexes with an adjoining wall, both featuring generously sized, well-designed units, highlighted by a three-bedroom, two-storey main unit with high-end finishes, contemporary luxury design, and an expansive ~600 sq. ft. primary bedroom, inclusive of a walk-in closet and ensuite bathrooms. The additional two units offer functional, spacious layouts, with one below-grade unit and one side-entry unit, providing excellent rental versatility. All units feature in-suite laundry and AC for a more premium feel. The property offers ample on-site parking, accommodating more than two spaces per unit, with flexibility for larger vehicles or additional storage. The asset is currently operating with Airbnb use, creating added income potential where permitted. Utilities are structured on a practical equal-billing system, with the main unit responsible for 50%, the side unit 30%, and the basement unit 20%, per property, supporting efficient cost recovery and predictable operating expenses. Turnkey, scalable, and built for performance, this is a rare new-build investment that delivers on both income and quality.
Location
Province ON
County Niagara
Area Niagara
Interior
Cooling Yes
Exterior
Utilities Available Available
Lot Frontage 60.7
Lot Depth 132.98
Others
ParcelsYN No
Listed by EXP REALTY