51 Lyons Avenue

Presenting a remarkable opportunity, this Multi-Family Home for sale in Welland is located at 51 Lyons Avenue, Welland. This solid and meticulously maintained multiplex building boasts five well-appointed units, making it an ideal investment for those seeking a turn-key money-making property. Situated in the desirable community of 773 - Lincoln/Crowland, this residence is conveniently close to local parks, public transport, and a variety of shops, along with quick and easy access to the highway.

The property at 51 Lyons Avenue, Welland, features a total of six bedrooms and five bathrooms across its two-storey layout. Each unit is currently fully occupied, generating a notable net operating income (NOI) of £54,236.62, with a cap rate nearing 8% per annum. This Multi-Family Home for sale in Welland presents a fantastic opportunity for future rental increases, given the strong demand in the area. The units consist of one two-bedroom unit and four one-bedroom units, each with excellent layouts that ensure comfort and practicality for tenants.

Unit #1, the spacious two-bedroom accommodation, is currently rented for £1,488.66. The one-bedroom units are rented at competitive rates: Unit #2 at £750.00, Unit #3 at £942.58, Unit #4 at £1,350.00, and Unit #5 at £1,383.75. The consistent occupancy and attractive rental rates reflect the quality of this Multi-Family Home for sale in Welland, making it a sound investment choice.

The building itself is constructed with a durable stucco (plaster) exterior and has undergone several updates to ensure it remains in excellent condition. Notably, the roof was replaced in 2018 and is designed to last for 40 years. The furnace was updated in 2021, and the plumbing and electrical systems have been modernised with new copper and ABS materials, alongside a 200-amp service. Replacement windows were installed in 2019, and the exterior has been freshly painted, enhancing the overall curb appeal of this property.

Inside the units, tenants will find a clean and welcoming environment. Three of the units have been fitted with new kitchens, while minor updates have been made to the bathrooms, including a brand-new bathroom in Unit #2. The flooring throughout the units has been upgraded to newer vinyl plank, providing both style and durability. This Multi-Family Home for sale in Welland is unfurnished, allowing new owners the flexibility to furnish the units as they see fit.

The property also features a partially finished basement with a separate entrance, which is set up for future coin-operated laundry facilities, adding further potential for income generation. Although there is no central vacuum system, air conditioning, or fireplace, the property is equipped with municipal water and sewer services, and the heating is provided by a forced air system.

With a lot size of 45 x 100 feet, this property offers ample space for tenants, and street parking is permitted, ensuring convenience for residents and their guests. There is no garage space or additional land included, but the property does provide parking space for three vehicles.

In summary, this Multi-Family Home for sale in Welland at 51 Lyons Avenue, Welland, is a well-maintained investment opportunity in a thriving community. With its solid financial performance, modern updates, and desirable location, it is poised to attract both current and future tenants. Don’t miss the chance to own this exceptional property that promises a steady income and potential for growth in the heart of Welland.

The 773 - Lincoln/Crowland area in Welland is a charming and well-established neighbourhood that offers a blend of suburban comfort and convenient access to urban amenities. Characterised by its tree-lined streets and a mix of residential properties, the community is ideal for families and individuals alike. With local parks, schools, and shopping facilities within easy reach, residents enjoy a balanced lifestyle that combines tranquillity with accessibility. The area is also well-connected to public transport, making it easy to explore the wider region. Overall, 773 - Lincoln/Crowland presents a welcoming environment for those seeking a pleasant place to call home in Welland.

Schools in the Neighbourhood

This property is conveniently located near several highly-rated educational institutions, making it an ideal choice for families. Within a short distance, you'll find Eastdale Secondary School, just 0.8 km away, boasting an impressive rating of 5.2, catering to grades 9 to 12. For younger students, St. Andrew Catholic Elementary School is only 0.4 km away, offering a strong academic environment with a rating of 6.5 for grades K to 8. Additionally, Princess Elizabeth Public School, also 0.8 km from the property, provides education in French for grades 1 to 8 and has a commendable rating of 7. Plymouth Public School, located 1.5 km away, serves grades JK to 8 and enjoys a high rating of 4.9. For secondary education, Notre Dame College School is another option within 1.5 km, rated at 6.2. Lastly, Alexander Kuska Catholic Elementary School is a bit further at 4.2 km, with a rating of 5.4. With a mix of public and Catholic schools, this area offers diverse educational opportunities for children, ensuring parents can find the right fit for their family's needs.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 579 residents, with an average household size of 2.2 individuals. The demographic profile indicates a mature community, with an average age of 43.4 years. The average household income stands at $84,000, reflecting a relatively stable economic environment, although 12% of the population is classified as low-income. The average property price in the area is $420,000, suggesting a competitive real estate market. The community is characterized by a diverse social fabric, with 46.46% of residents identifying as single and 35.29% living in households with children. Immigrants make up 3.82% of the population, contributing to the area's cultural diversity. Renters account for 23.21% of households, while there are no condominiums available in the vicinity. Educational attainment is notable, with 51.75% of residents holding a college or university degree. However, a significant portion of the population, 45.61%, is not participating in the labor force, indicating potential challenges in employment opportunities. Overall, this area presents a blend of stability and diversity, making it an intriguing option for prospective homeowners or investors.