38-40 First Street

Welcome to the remarkable **Multi-Family Home for sale in Welland **, located at 38-40 First Street, Welland. This impressive property, a solid brick multiplex, presents an exceptional investment opportunity in the vibrant heart of Welland. With its prime location near new developments, this property is ideally situated close to an array of amenities, including schools, parks, the hospital, recreational facilities, a pharmacy, and the picturesque Welland Canal.

This **Multi-Family Home for sale in Welland** features a generous 3,812 square feet of above-grade living space, making it an attractive option for both seasoned investors and those looking to enter the property market. The building comprises a total of seven bedrooms distributed across four one-bedroom units and three two-bedroom units, ensuring a diverse rental appeal. The property generates a commendable annual rental income of £79,511.88 plus utilities, which underscores its potential as a lucrative investment.

The layout of this **Multi-Family Home for sale in Welland** is both functional and spacious, boasting a total of 17 rooms, including two dens and five kitchens, which provide ample space for tenants. Additionally, there are eight additional rooms that can be utilised for various purposes, enhancing the versatility of the property. With a total of five bathrooms, the building accommodates tenants comfortably, catering to the needs of a multi-family living environment.

Set on a substantial lot measuring 100 x 166 feet, this property benefits from favourable INSH zoning, presenting significant potential for future development. The absence of a pool and fireplace allows for a straightforward maintenance approach, while the full, finished basement adds extra space that could be utilised for storage or additional tenant amenities. It's worth noting that this property does not include central air conditioning or a central vacuum system, but it does offer municipal water and sewer services, ensuring essential utilities are readily available.

The exterior of the **Multi-Family Home for sale in Welland** is constructed from durable brick, providing both aesthetic appeal and longevity. Although there is no garage space available, the property features a detached garage, and parking is accessible via street-only options. This arrangement is practical given the urban setting, where convenience is key.

As you explore the surrounding community of 773 - Lincoln/Crowland in Welland, you will find that the area is rich in amenities and offers a welcoming atmosphere for families and individuals alike. The proximity to essential services and recreational facilities enhances the desirability of this location, making it an ideal choice for potential tenants.

At over 100 years old, this property carries a sense of history and character that is often sought after in the real estate market. The age of the building adds to its charm, and with careful management and potential updates, it can continue to thrive as a sought-after rental property.

In conclusion, do not miss the opportunity to acquire this exceptional **Multi-Family Home for sale in Welland** at 38-40 First Street, Welland. With its impressive income potential, strategic location, and ample living space, this property stands out as a versatile investment. Whether you are looking to expand your portfolio or start your journey in property investment, this building offers a unique proposition that should not be overlooked. Book your showing today and discover the possibilities that await in this remarkable property!

The 773 - Lincoln/Crowland area in Welland is a charming and inviting neighbourhood that offers a blend of suburban tranquillity and convenient access to urban amenities. Nestled within the picturesque landscape of the Niagara region, this community features tree-lined streets, well-maintained parks, and a variety of local shops and services that cater to everyday needs. Residents can enjoy a strong sense of community spirit, with family-friendly activities and events throughout the year. With its close proximity to schools, recreational facilities, and public transport links, 773 - Lincoln/Crowland is an ideal location for those seeking a balanced lifestyle in a welcoming environment.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest option is Plymouth Public School, just 0.4 km away, offering elementary education (JK to 8) with a respectable school rating of 6.8. Another nearby elementary school is St. Mary Catholic Elementary School, located 0.5 km from the property, although it has a lower rating of 2.7. For families seeking French-language education, Princess Elizabeth Public School is 1.4 km away, rated at 6.9, providing grades 1 to 8. Eastdale Secondary School and Notre Dame College School, both 2.0 km away, cater to secondary education (grades 9 to 12), with ratings of 4 and 6, respectively. Additionally, Alexander Kuska Catholic Elementary School is available at a distance of 4.3 km, offering a French curriculum for grades K to 8 and holding a rating of 5.4. With a variety of public and Catholic schools in close proximity, this property is well-suited for families prioritizing education.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small population of 549 residents, with an average household size of 2.1 individuals. The community has a relatively young average age of 37.9 years. The average household income stands at $56,000, with a notable 28.4% of the population classified as low-income. Housing prices average around $380,000, reflecting the local real estate market's dynamics. A significant portion of the population, 60.23%, is single, while 35.71% of households include children, indicating a mix of family structures. The area has a diverse demographic, with 9.38% of residents being immigrants. Renting is prevalent, with 59.57% of households classified as renters, and there are no condominiums available in the area. Educational attainment is relatively high, with 35.71% of residents holding a college or university degree. However, a substantial 47.62% of the population is not in the labor force, suggesting potential economic challenges. Overall, this demographic snapshot highlights a community with a blend of young, single individuals and families, alongside economic diversity and educational aspirations.