32 & 34 River Street

Nestled in the charming community of 561 - Port Robinson, this stunning Multi-Family Home for sale in Thorold at 32 & 34 River Street, Thorold, presents an exceptional investment opportunity. With its unique bungalow-raised style, this multiplex boasts an impressive total of 10 bedrooms and 5 bathrooms, making it an ideal choice for those looking to invest in a property that offers both space and potential.

The exterior of the building is a delightful combination of brick and vinyl siding, providing a sturdy and attractive façade. The property is set on a generous lot measuring 55 x 174 feet, offering ample outdoor space for various activities. While there is no swimming pool or garage, the property does feature a mutual driveway with parking for up to three vehicles, ensuring convenience for both residents and guests.

Inside, the Multi-Family Home for sale in Thorold is divided into four separate units, each with its own kitchen. This setup allows for flexibility and independence for tenants. The absence of a central vacuum system and air conditioning may be noted, but the property is well-equipped with baseboard heating to keep the units cosy during the colder months. The separate entrance to the basement, which is finished with a walk-out apartment, adds further value to this already enticing property.

One of the standout features of this Multi-Family Home for sale in Thorold is its potential for increased rental income. Currently, one of the three-bedroom units is set to become available in January, with the existing tenant paying £1,400 per month. With the current market rates, there is an opportunity to increase this rent by an additional £700, bringing the total to £2,100 monthly. The owner has also secured a City rental permit for all units, which is transferable to the new owners, providing peace of mind for prospective buyers.

The building is only 16 to 30 years old, making it a relatively modern investment. Recent renovations have been carried out across the units, with significant updates including a new roof scheduled for 2024, a new front porch added in 2021, and a new furnace installed in the lower unit in 2015. Additionally, all new water tanks were installed five years ago and are owned outright. Each unit has undergone facelifts at various times, with renovations completed in 2017, 2019, and 2020, ensuring that the property remains appealing to tenants.

The location of this Multi-Family Home for sale in Thorold is another significant advantage. Situated just a short drive from Brock University (approximately 7 minutes) and Niagara College (around 14 minutes), it is perfect for students and staff alike. Moreover, the property is conveniently located near the Welland Canal's twinned flight locks, a popular tourist attraction where ships navigate the unique landscape. This adds an extra layer of appeal for potential tenants looking for a vibrant community to call home.

With approximately 3,800 square feet of total living space, this property offers a wealth of possibilities for investors. The current AVM range is estimated at £773,852, making this Multi-Family Home for sale in Thorold an attractive option at a competitive price point. The vendor is motivated and willing to hold a first mortgage for the right buyer, making this an opportunity not to be missed.

In summary, 32 & 34 River Street, Thorold, is a rare find in the real estate market. With its spacious layout, recent renovations, and prime location, this Multi-Family Home for sale in Thorold is poised to deliver both immediate and long-term returns for savvy investors. Don't miss your chance to explore this exceptional property!

Port Robinson, located within the city of Thorold, is a charming and picturesque community that offers a unique blend of natural beauty and historical significance. Nestled along the serene banks of the Welland River, this quaint area is characterised by its lush green spaces, scenic trails, and proximity to the stunning Niagara Escarpment. Residents can enjoy a peaceful, rural atmosphere while still being conveniently close to urban amenities. The community's rich heritage is reflected in its historic buildings and the remnants of its former role as a vital transportation hub. With a strong sense of local pride and a welcoming environment, Port Robinson is an ideal place for those seeking a tranquil lifestyle amidst the beauty of Ontario's landscape.

Schools in the Neighbourhood

The property is conveniently located near Quaker Road Public School, an esteemed elementary institution that is part of the District School Board of Niagara. Situated just 4.6 kilometers away, this public school caters to students from Junior Kindergarten through to Grade 8, making it an ideal choice for families with young children. The school is committed to providing quality education in English, and it boasts a respectable school rating of 6.6, reflecting its dedication to student achievement and overall educational standards. The proximity of Quaker Road Public School enhances the appeal of the property, as it offers easy access to a nurturing learning environment for your children. With its solid reputation and focus on academic excellence, this school is a significant asset for families considering this neighborhood. Overall, the availability of a reputable elementary school nearby adds to the convenience and attractiveness of the property, making it a suitable choice for those prioritizing education and community.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 794 residents and an average household size of 2.6. The average age of residents is 42.4 years, indicating a mature population. The average household income stands at a robust $104,000, with only 9.2% of the population classified as low-income, suggesting a relatively affluent community. The average property price in the area is $632,000, reflecting the demand for housing. A significant portion of the population, 34.81%, is single, while 42% of households include children, indicating a family-friendly environment. The area is home to a small percentage of immigrants (4.67%) and has a low rental market, with only 11.86% of residents renting their homes. Notably, there are no condominiums in the area, suggesting a preference for other housing types. Educational attainment is high, with 58.59% of residents holding a college or university degree. However, 33.59% of the population is not in the labor force, which may reflect various socio-economic factors influencing employment in the community. Overall, this demographic snapshot highlights a well-educated, predominantly family-oriented community with a stable economic base.