1/234591 HOMEWOOD AVENUE, Niagara Falls (Cherrywood)
4591 HOMEWOOD AVENUE, Niagara Falls (Cherrywood), ON L2E4X9
$579,000 total
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Asset Class
Multifamily
Size
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Building class
B
Zoning
RF6 — Medium Density
$ / SF
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Occupancy
92%
About this property
INVESTMENT OPPORTUNITY - TWO UNITS VACANT AS OF DECEMBER 1, 2026. This legal non-conforming triplex offers excellent flexibility and income potential, with the rear 1-bedroom unit currently vacant and the main-floor 2-bedroom unit becoming vacant December 1, 2026, allowing a new owner to establish two new tenancies.The main-floor 2-bedroom unit was renovated in 2023, while the lower-level 3-bedroom unit was renovated in 2020 and features large windows with plenty of natural light. The rear unit offers 1 bedroom and 1 bathroom. Additional highlights include an oversized 2-car garage with hydro, two separate hydro meters, a new roof completed in 2023, and an owned hot water tank.With two units available for occupancy as of December, this is a great opportunity for an investor looking to reposition the property and maximize its income potential. (id:66811)
Financial sandbox
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Monthly debt service
$3K
Projected NOI
$21K
Annual cash flow
$-11K
Cash-on-cash
-6.33%
DSCR
0.66
Going-in cap
3.64%
Figures are modelled from the listed price and asset class for illustration only. Verify all income, expenses, and financing terms independently before making an offer.
Area demographics
Trade area within 3 miles of the property.
Population
89,607
Households
39,787
Median income
$103,500
Median age
34.9
Daytime population
108,017
5-yr growth
3.6%
Modelled estimates for illustration until a licensed census data provider is connected.
Secure deal room
Confidential diligence documents for 4591 HOMEWOOD AVENUE, Niagara Falls (Cherrywood).
Offering Memorandum
PDF · 4.2 MB
Rent Roll & T-12
XLSX · 820 KB
Environmental Phase I
PDF · 6.7 MB
Site Survey & Plans
PDF · 11.4 MB
Zoning Confirmation Letter
PDF · 310 KB
Preview experience — the electronic NDA is illustrative and is not a binding agreement.