Excellent investment opportunity in the City of Welland! This property currently generates $5,700/month in rental income from an existing 9-bedroom home, offering strong cashflow from day one. The site also benefits from Welland's latest zoning amendment, which permits up to 4 residential units on a single lot. With potential severance, this property can support development of up to 8 units in total (4 per lot), subject to standard municipal approvals plus additional units in addition to 8 units if the developer proposes to apply for approval for more units Secure steady income now while unlocking significant future development potential in one of Niagara's fastest-growing rental markets.
HOMELIFE DIAMONDS REALTY INC
$899,900
74 Macoomb Drive, Welland, Ontario
9 Bedrooms
2 Bathrooms
1800 Sqft
Property
MLS® Number: 40770101
Address: 74 Macoomb Drive
City: Welland
Style: Sidesplit
Exterior: Brick
Lot Size: 137.5ft x 55.0ft
Utilities
Central Air: Yes
Heating: Forced Air, Natural Gas
Parking
Parking Spaces: 3
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Property Sale History
Travel and Neighbourhood
42/100Walk Score®
Car-Dependent
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Location
