Legal Non-Conforming 4-Plex + In-Law Suite. Prime Investment Opportunity! Impressive rental income featuring 5 x 2-bedroom units, including a lower-level 2-bedroom in-law suite with separate entrance. Set on a large 60.14 x 160.75 ft lot, this turnkey building includes a detached double garage, concrete driveway, and parking for all units. 4 units recently renovated with over $240K in upgrades, plus a brand-new coin-operated laundry room (2024). Additional updates: breaker panels, windows/doors, basement waterproofing, roofs (2011), boiler (2012), and bathroom upgrades across several units. Gross annual income approx: $97,086! with very desirable CAP rate of approx 7.72%. Located steps from the hospital, transit, and amenities. Development potential on an oversized lot in a high-demand location!
5749 Summer Street
215 - Hospital, Niagara Falls, Niagara $970,000Make an offer
10 Beds
5 Baths
1500-2000 sqft
Detached
Garage
Parking for 4
Zoning: R2
- MLS®#:
- X12091339
- Property Type:
- Multiplex
- Property Style:
- 2-Storey
- Area:
- Niagara
- Community:
- 215 - Hospital
- Taxes:
- $4,513.17 / 2024
- Added:
- April 18 2025
- Lot Frontage:
- 60.14
- Lot Depth:
- 160.75
- Status:
- Active
- Outside:
- Brick,Vinyl Siding
- Year Built:
- Basement:
- Walk-Up
- Brokerage:
- OUR NEIGHBOURHOOD REALTY INC.
- Lot :
-
160
60
BIG LOT
- Intersection:
- Summer St. & Temperance Ave
- Rooms:
- Bedrooms:
- 10
- Bathrooms:
- 5
- Fireplace:
- Utilities
- Water:
- Municipal
- Cooling:
- None
- Heating Type:
- Other
- Heating Fuel:
Listing Details
Insights
- Strong Rental Income Potential: The property generates an impressive gross annual income of approximately $97,086, with a desirable CAP rate of around 7.72%, making it an attractive investment opportunity.
- Recent Upgrades: Over $240K in renovations have been completed, including updates to four units, a new coin-operated laundry room, and essential improvements like breaker panels and waterproofing, ensuring lower maintenance costs for the future.
- Prime Location: Situated steps from the hospital and public transit, this property is in a high-demand area, enhancing its appeal to potential tenants and offering development potential on an oversized lot.
Sale/Lease History of 5749 Summer Street
View all past sales, leases, and listings of the property at 5749 Summer Street.Neighbourhood
Schools, amenities, travel times, and market trends near 5749 Summer StreetSchools
7 public & 7 Catholic schools serve this home. Of these, 9 have catchments. There is 1 private school nearby.
Parks & Rec
2 ball diamonds, 2 playgrounds and 2 other facilities are within a 20 min walk of this home.
Transit
Street transit stop less than a 3 min walk away. Rail transit stop less than 3 km away.
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