4758 Second Avenue Niagara Falls (Cherrywood), Ontario L2E 4H8
$528,500
Legal non-conforming triplex with upside, ideally located in the heart of Niagara Falls. It features two two-bedroom units and one bachelor unit, offering flexible living and rental options. This property presents an excellent opportunity for first-time buyers and investors seeking reliable income in a high-demand area. Live in one unit while the others help offset your mortgage, or fully lease the property for steady cash flow. The home is currently priced based on its existing interior finishes and layout, with rent projections reflecting its present livable condition. With cosmetic updates and personal touches, there is strong potential to enhance livability and rental returns. Whether you're an investor pursuing value-add upside or a buyer looking to customize over time, this property offers flexibility and long-term potential. Key upgrades include two separate hydro meters, a NEW furnace, and NEW central air. A majority of windows are NEW, providing improved efficiency and reduced operating costs. Located minutes from the Tourist District, casinos, GO Train, Niagara University, transit, shopping, and major employment hubs, the area continues to experience strong rental demand. Niagara Falls is also part of a long-term vision to evolve into the "Las Vegas of the North," supported by significant investments in tourism, infrastructure, and entertainment. With projected gross rents of approximately $46,800 per year and an estimated net income of $37,376, this property offers solid cash flow at an accessible price point. Updated mechanicals, separate meters, and a proven rental layout make this a compelling income-producing opportunity in one of Niagara's most active and evolving rental markets. (id:49269)
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Property Details
| MLS® Number | X12683850 |
| Property Type | Multi-family |
| Community Name | 211 - Cherrywood |
| AmenitiesNearBy | Public Transit, Place Of Worship, Schools, Park |
| CommunityFeatures | School Bus |
| EquipmentType | Water Heater |
| Features | Carpet Free |
| ParkingSpaceTotal | 2 |
| RentalEquipmentType | Water Heater |
Building
| BathroomTotal | 3 |
| BedroomsAboveGround | 5 |
| BedroomsTotal | 5 |
| Amenities | Separate Electricity Meters |
| Appliances | Water Meter, Dryer, Stove, Washer, Refrigerator |
| BasementDevelopment | Unfinished |
| BasementFeatures | Separate Entrance |
| BasementType | N/a, N/a (unfinished) |
| CoolingType | Central Air Conditioning |
| ExteriorFinish | Aluminum Siding |
| FoundationType | Poured Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Forced Air |
| StoriesTotal | 2 |
| SizeInterior | 1100 - 1500 Sqft |
| Type | Triplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| LandAmenities | Public Transit, Place Of Worship, Schools, Park |
| Sewer | Sanitary Sewer |
| SizeDepth | 150 Ft |
| SizeFrontage | 29 Ft ,7 In |
| SizeIrregular | 29.6 X 150 Ft |
| SizeTotalText | 29.6 X 150 Ft|under 1/2 Acre |
| ZoningDescription | R2 |
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March 05 2026 11:59:49
Niagara Association of REALTORS®
Cosmopolitan Realty