220-228 West Street Port Colborne, Ontario L3K 4E3
$1,499,000
An exceptional opportunity to acquire a 12-unit mixed-use income property at 220-228 West Street in Port Colborne, Ontario.The asset comprises 8 residential suites (4 bachelor, 3 one-bedroom, 1 two-bedroom) and 4 ground-floor commercial units leased to established local tenants. In-place effective gross income (EGI) is approximately $120,217 and in-place net operating income (NOI) is approximately $61,546. On a stabilized basis, residential rents are projected at Canada Mortgage and Housing Corporation (CMHC) blended average rents of $1,100/month for Port Colborne, consistent with published CMHC averages of $1,082 for one-bedroom and $1,118 for two-bedroom units as of October 2025. At these assumptions, the asset supports NOI of approximately $101,663 and a cap rate of 6.78% at the asking price. Total annualized residential rent upside to the CMHC blended average is $40,272, representing a 61.65% gain on current residential rents (id:62616)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X12996316 |
| Property Type | Multi-family |
| Community Name | 878 - Sugarloaf |
| Features | Irregular Lot Size |
| Parking Space Total | 12 |
Building
| Age | 51 To 99 Years |
| Cooling Type | None |
| Heating Type | Baseboard Heaters |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | Yes |
| Size Depth | 165 Ft |
| Size Frontage | 91 Ft |
| Size Irregular | 13024 |
| Size Total | 13024 Ac |
| Size Total Text | 13024 Ac |
| Zoning Description | Dc |
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April 15 2026 12:44:50
Toronto Regional Real Estate Board
Royal LePage Signature Realty