For Lease · Multifamily

1 - 3008 YOUNG AVENUE, Fort Erie (Ridgeway)

1 - 3008 YOUNG AVENUE, Fort Erie (Ridgeway), ON L0S1N0

Price on request

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Asset Class

Multifamily

Size

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Building class

C

Zoning

RF6 — Medium Density

$ / SF

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Occupancy

93%

About this property

Brand new custom-built two level upper unit in the sought-after Ridgeway/Crystal Beach area, offering 3 bedrooms, 3 bathrooms, high-end finishes, and an exceptional amount of living space throughout. This upper unit is part of a home with a completely separate basement unit, including its own private entrance.The main level features a bright open-concept layout with impressive custom details, including warm wood accents, modern lighting, wide-plank flooring, a statement fireplace, and a beautifully finished kitchen with a large island, quartz-style counters, built-in appliances, custom cabinetry, a walk-in pantry, and premium finishes throughout. The dining and living areas offer a spacious, airy feel with large windows and access to the exclusive backyard space, which is still under construction.The home includes 3 spacious bedrooms, each with its own walk-in closet, along with 3 bathrooms finished with modern vanities, black hardware, upgraded lighting, and stylish tile details. The primary ensuite features a glass shower, built-in niche, bench seating, and contemporary finishes.Additional highlights include exclusive use of a massive two-car garage with high ceilings, in-suite laundry, excellent storage, and exclusive use of the backyard. Tenant is responsible for all snow removal on their own driveway and walkways, as well as all lawn care.Located in a desirable beachside Ridgeway setting, just steps to the Lake Erie shoreline and close to Crystal Beach, downtown Ridgeway shops, local restaurants, cafés, parks, trails, and everyday amenities. A rare opportunity to lease a brand new, custom-finished home in one of Fort Erie's most charming lakeside communities. Tenant pays 75% of all utilities. (id:66811)

Financial sandbox

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Estimate
Purchase price$1.50M
Down payment30% · $450K
Interest rate6.25%
Amortization25 years
Occupancy93%
Expense growth2.5%

Monthly debt service

$7K

Projected NOI

$80K

Annual cash flow

$-3K

Cash-on-cash

-0.69%

DSCR

0.96

Going-in cap

5.34%

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

129,344

Households

46,883

Median income

$70,500

Median age

41.3

Daytime population

208,348

5-yr growth

2.3%

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

Secure deal room

Confidential diligence documents for 1 - 3008 YOUNG AVENUE, Fort Erie (Ridgeway).

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.