589 Ontario Street, St. Catharines, ON
Property Highlights
Welcome to this remarkable land located in the coveted neighborhood of 438 - Port Dalhousie. Offering a sublime balance of structural integrity and modern aesthetic appeal, this residence presents an exceptional opportunity offered at $3,450,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 0 Bedrooms and 0 Bathrooms
- Premium 121.26 x 174.74 ft lot size
Description
Rare opportunity to acquire a 21-unit multifamily investment in St. Catharines' desirable north end with exceptional income today and significant redevelopment potential for tomorrow. With 6 lots providing frontage on both Ontario Street and Embassy Avenue, the property currently generates a 6.1% cap rate, with a clear path to approximately 8% cap rate through lease-up and rental optimization. The site has been the subject of a pre-consultation process with the City, identifying future redevelopment potential (buyer to complete their own due diligence). Investors benefit from strong in-place cash flow while pursuing future planning approvals, creating a unique opportunity to generate income during the entitlement process. Whether you're seeking a stable long-term hold, a value-add apartment investment, or a strategic land assembly with development upside, this offering presents exceptional flexibility in a prime location.
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This could be the first listing for this address.
Pricing & Value Insights
Data-driven valuation for 589 Ontario Street, St. Catharines, ON L2N 4N9
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in St. Catharines, ON
For a property listed at $3,450,000 in St. Catharines, the legal minimum down payment is $690,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $72,725 for this transaction. As this listing is in St. Catharines (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $72,725.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.