51 Lyons Avenue, Welland - Sold for $655,000 | Modern Solution Realty

51 Lyons Avenue, Welland

51 Lyons Avenue in Welland - 6 bedroom, 5 bathroom. Sold for $655,000. Listed at $699,900.

Turn key money maker!!! Solid and meticulously maintained 5 unit building located in fabulous neighbourhood close to park, public transit & shops + quick, convenient highway access. Fully occupied w/ NOI of 54,236.62 & Cap Rate near 8% / year with great upside for future rents. ( Unit #1 ( 2 bedroom ) $1488.66 , Unit #2 ( 1 bedroom ) $750.00, Unit #3 ( 1 bedroom ) $942.58, Unit #4 ( 1 bedroom ) $1350.00, Unit #5 ( 1 bedroom ) $1383.75. Units are super clean - building has newer 40yr roof (2018), newer furnace (2021), updated cooper and ABS plumbing & electrical ( 200amp ), replacement windows (2019) & freshly painted stucco exterior. Updates within the units include; newer vinyl plank flooring, 3 have new kitchens & minor update work in the baths ( Unit #2 bath is brand new ). All units have have excellent layouts + street parking permitted. Lower level is set up for future coin op laundry.

Property Details

  • Property Type: Mortgage
  • Style: 2-Storey
  • Square Footage: 2250 sqft
  • Basement: Apartment
  • Heating: Gas
  • Cooling: None
  • Parking: 3 spaces
  • Property Taxes: $3,055.18/yr
  • Neighbourhood: 773 - Lincoln/Crowland
  • Postal Code: L3B 1L8

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