For Lease · Multifamily

UNIT #12 - 2 LEWIS STREET, Fort Erie (Central)

UNIT #12 - 2 LEWIS STREET, Fort Erie (Central), ON L2A2P7

Price on request

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Asset Class

Multifamily

Size

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Building class

A

Zoning

RA8 — Medium Rise

$ / SF

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Occupancy

84%

About this property

Unit #12 FOR LEASE: Ideally located across from the Niagara River, this well-maintained 55&up apartment building offers scenic views and a welcoming sense of community within a quiet 15-unit building, perfect for retirees seeking a relaxed lifestyle. This one-bedroom unit is thoughtfully updated and features a bright living space, a functional kitchen complete with pantry, fridge, stove, dishwasher, and microwave, along with ample in-unit storage. The bathroom includes a 4-piece tub/shower combination, and the layout is designed for comfortable, easy living. Residents benefit from shared, coin-operated laundry on each floor, as well as one outdoor parking space included. Additional options are available, including indoor parking or storage rental for $100/month each. The building also features an elevator and a secure lobby with an entry panel system, allowing tenants to conveniently grant access to guests. Outside, enjoy a fenced common grass area with covered BBQ deck and firepit spaces - a great place to relax, connect with neighbours, and spend time with family while watching the grandchildren play. Worry-free living without having to cut the lawn or shovel snow. Landlord pays water, tenant pays hydro. Enjoy beautiful views of the Niagara River year-round, watch boats pass by in the warmer months and take in the dramatic ice formations in winter. The nearby Niagara River Parkway Trail connects you to the revitalized Downtown Bridgeburg, with its shops, cafés, and services, and extends north to Niagara Falls and Niagara-on-the-Lake, or south to connect with the Friendship Trail toward Port Colborne. Conveniently located close to Fort Erie's commercial district, with quick access to the Peace Bridge to the USA and the QEW highway to Toronto, this location offers both tranquility and connectivity. Three units are currently available for lease in this building. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy84%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$68K

Annual cash flow

$-15K

Cash-on-cash

-3.26%

DSCR

0.82

Going-in cap

4.56%

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

69,904

Households

24,341

Median income

$129,000

Median age

33.6

Daytime population

67,621

5-yr growth

3.8%

Modelled estimates for illustration until a licensed census data provider is connected.

Secure deal room

Confidential diligence documents for UNIT #12 - 2 LEWIS STREET, Fort Erie (Central).

NDA required
  • 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.