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$ 990,000
Est. payment /mo
New
664 King 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 X12641984
Annual Tax Amount $7,578
Tax Year 2024
Property Sub-Type Investment
Lot Depth 66.63
Lot Front 60.7
Property Description
This newly built triplex presents an outstanding investment opportunity with strong cash flow, a favourable unit mix, and turnkey construction quality. Offering a 5.6% cap rate on entry based on conservative underwriting, the property features three spacious and well-designed units, including a premium three-bedroom, two-storey main suite with high-end finishes, contemporary design, and an impressive ~600 sq. ft. primary bedroom complete with a walk-in closet and ensuite bathrooms. The two additional units-a below-grade suite and a side-entry unit-provide functional layouts and broad rental appeal, with all units equipped with in-suite air conditioning and laundry. The property includes ample on-site parking, accommodating more than two vehicles per unit with additional space for larger vehicles or storage. Utilities are allocated through an equal-billing structure, with the main unit responsible for 50%, the side unit 30%, and the basement unit 20%, creating predictable operating costs. The asset is currently operated as an Airbnb, offering added income potential where permitted. This triplex is one half of a two-building portfolio, sharing an adjoining wall with a matching triplex next door, allowing investors the opportunity to scale with a complementary asset. Turnkey, modern, and income-producing, this is a rare chance to secure a high-quality new-build investment in a strong rental market.
Location
Province ON
County Niagara
Area Niagara
Interior
Cooling Yes
Exterior
Utilities Available Available
Lot Frontage 60.7
Lot Depth 66.63
Others
ParcelsYN No
Listed by EXP REALTY
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