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Est. payment /mo
New
589 Ontario ST St. Catharines, ON L2N 4N9
32 Beds
21 Baths
0.5 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 5000 +
Subdivision 438 - Port Dalhousie
MLS Listing ID X13701644
Style 2-Storey
Bedrooms 32
Annual Tax Amount $26,246
Tax Year 2025
Lot Size 0.500 Acres
Property Sub-Type Multiplex
Property 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.
Location
Province ON
County Niagara
Area Niagara
Zoning R2, C2
Rooms
Family Room No
Basement Other
Kitchen 21
Interior
Interior Features Other
Cooling Central Air
Inclusions Refrigerator, Stove, Washer, Dryer, ELF'S
Exterior
Pool None
Roof Type Asphalt Shingle
Lot Frontage 121.26
Lot Depth 174.74
Total Parking Spaces 16
Building
Foundation Other
Others
Senior Community No
ParcelsYN Yes
Listed by ROYAL LEPAGE NRC REALTY COMPASS ESTATES
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