256 Lincoln Street Welland, Ontario L3B 4N1

$1,099,900

A turnkey, income generating property in the heart of Welland. This exceptionally well maintained, 5-unit residential apartment building sits in a highly desirable central location, offering strong rental appeal and long-term value, with significant recent capital improvements including a new hot water heating system (2024), newer vinyl thermo windows 2018, and with on-site laundry for all tenants. Most units feature updated flooring and fresh paint, while the exterior stucco 2021 is in excellent condition reflecting the pride of ownership. Tenants benefit from an unbeatable location within walking distance to a major shopping plaza on Lincoln St., two elementary schools, the scenic Welland Canal walking and cycling paths, and vibrant downtown amenities. This property is also serviced by the Niagara Region wide bus route, making it attractive to a broad tenant base. Additional highlights include separate hydro meters, on site parking, and a double car garage at the rear of the property with the potential to generate an additional $1,200 annually by renting out half the garage space. Currently tenanted by quality, reliable residents, this solid and centrally located multi-unit investment asset represents a rare find in one of Niagara's growing communities. (id:19593)

Property Details

MLS® Number	40829972
Property Type	Multi-family
Amenities Near By	Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Community Features	School Bus
Features	Southern Exposure, Paved Driveway, Laundry- Coin Operated
Parking Space Total	9
Structure	Shed

Building

Basement Development	Partially Finished
Basement Type	Partial (partially Finished)
Construction Material	Concrete Block, Concrete Walls, Wood Frame
Exterior Finish	Concrete, Stucco, Wood, Shingles
Fire Protection	Unknown
Foundation Type	Block
Heating Fuel	Natural Gas
Heating Type	Forced Air
Stories Total	2
Size Interior	3,028 Ft2
Utility Water	Municipal Water

Parking

Detached Garage
Open

Land

Acreage	No
Land Amenities	Hospital, Park, Place Of Worship, Playground, Public Transit, Schools, Shopping
Sewer	Municipal Sewage System
Size Depth	100 Ft
Size Frontage	53 Ft
Size Total Text	Under 1/2 Acre
Zoning Description	Rl2

https://www.realtor.ca/real-estate/29749671/256-lincoln-street-welland