224 Mitchell Street Port Colborne (East Village), Ontario L3K 1Y3
$699,000
Excellent opportunity to acquire a multi-property residential investment portfolio in the growing community of Port Colborne. This offering includes three separate buildings with a total of eight residential units located at 220 Mitchell St., 224 Mitchell St., and 59 Louis St., providing strong current income with additional value-add potential.224 Mitchell Street (Fourplex): Currently configured with three fully renovated one-bedroom units plus one unit that has been taken back to the studs and approved for conversion into a five-bedroom rooming house, presenting significant upside once completed.220 Mitchell Street (Duplex): Two one-bedroom units, both currently tenanted at $1,250 per month, generating $2,500 in monthly income.59 Louis Street (Duplex): One one-bedroom unit and one bachelor unit currently generating $1,100 per month combined. The property also features a detached garage and additional storage shed, providing further tenant convenience and potential rental value.Across the portfolio there are six renovated and tenanted units, one tenanted unit awaiting updates, and one vacant gutted unit ready for finishing. The current combined gross monthly income totals approximately $8,050, with room for future growth.Major capital improvements have been completed across the properties, including roof replacements (2015), updated windows, exterior siding, soffits, eavestroughs, and plumbing upgrades, helping reduce near-term maintenance concerns.With seven units recognized by the municipality, this package presents a compelling opportunity for investors seeking a stabilized asset with additional redevelopment or rental upside. Conveniently located close to amenities, parks, and the historic Welland Canal corridor, which continues to support growth and revitalization in the area. (id:49269)
Property Details
| MLS® Number | X12887386 |
| Property Type | Single Family |
| Community Name | 876 - East Village |
| EquipmentType | Water Heater |
| ParkingSpaceTotal | 4 |
| RentalEquipmentType | Water Heater |
Building
| BedroomsAboveGround | 11 |
| BedroomsTotal | 11 |
| Age | 100+ Years |
| BasementType | Partial |
| CoolingType | None |
| ExteriorFinish | Vinyl Siding |
| FoundationType | Block |
| HeatingFuel | Electric, Natural Gas |
| HeatingType | Baseboard Heaters, Forced Air, Not Known |
| StoriesTotal | 2 |
| SizeInterior | 5000 - 100000 Sqft |
| Type | Other |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 90 Ft |
| SizeFrontage | 60 Ft ,3 In |
| SizeIrregular | 60.3 X 90 Ft |
| SizeTotalText | 60.3 X 90 Ft |
| ZoningDescription | R3 |
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March 16 2026 06:25:39
Niagara Association of REALTORS®
RE/MAX Niagara Realty Ltd, Brokerage