Rare Permit-Ready Multifamily Development Opportunity it is primed location walking distance to Niagara University- City of Niagara Buildings- the new GO Transit station and bridge to USA. FULLY APPROVED SITE PLAN with building permit ready for construction of a six-unit residential rental project consisting of two semi-deta ched buildings. Each building includes three spacious three-bedroom units, including basement apartments, designed to meet strong rental demand for larger family-oriented units.The approved development offers an excellent opportunity for investors or developers seeking a small-scale multifamily project with approvals already in place, significantly reducing development timelines and entitlement risk.Based on market rental estimates of approximately $2,200 per unit per month, the completed project may achieve gross annual rental income of approximately $158,400. Using standard vacancy and operating assumptions, the project presents the potential for strong long-term rental performance once stabilized. Buyers are advised to conduct their own due diligence regarding rents, operating costs, construction costs, and development feasibility.This is a unique opportunity to acquire a fully entitled six-unit rental development in a growing market with strong demand for larger rental units. (id:51158)
| MLS® Number | X12893760 |
| Property Type | Vacant Land |
| Community Name | 210 - Downtown |
| Acreage | No |
| Size Depth | 150 Ft |
| Size Frontage | 50 Ft |
| Size Irregular | 50 X 150 Ft |
| Size Total Text | 50 X 150 Ft |
| Zoning Description | R2 |
| Cable | Installed |
| Electricity | Installed |
| Sewer | Installed |
https://www.realtor.ca/real-estate/29483474/4446-morrison-street-niagara-falls-downtown-210-downtown
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