22 & 24 River Street Thorold, Ontario L0S 1K0
$1,395,000
This Rare 9-Unit Multi-Residential Investment property in Thorold offers a storybook setting at 22 & 24 River Street which is located in the historic hamlet of Port Robinson, situated on the east bank of the Welland Canal. 2nd Floor tenants in the front enjoy a view of the Canal as the ships go by. 7 out of 9 Units have been updated . Rental prices consists of (1) -3 Bedroom $1500*. (5)-2 Bedrooms,$1450. ,$1300, $1290, $950, & $630 (Live-In Super) $1450 will be the new rental price of the one vacant unit. (2)-1 Bedrooms $1150, $935** (1) Bachelor $950.Yearly Rental income for 2025 $91,060 including vacancy. Net Operating Expenses $60,000. Coin Laundry $2500 income Yr. 8 out of 9 units pay their own Hydro being separately metered! Residential License for both Properties til Feb 2028! 1/2 Roof was replaced in 2024 Bills included other half is in descent condition. There are 2-Natural Gas furnaces which cover 2 units the Seller pays for. Expenses : (3) Water Rental Tanks Rentals $1750 yearly, Gas $2300, Water $1500, Hydro $2800, Maintenance is around $2500 .Insurance $6350. Property Valued at $155,000 per Unit x 9 units, based on 32 and 34 River Street selling at $162,500 given it was a newer property just a couple of months ago, on the same street 2 doors away. Less than 1 % of properties in Thorold are multi-residential . So this is a good opportunity to own this 9-Unit investment property at a fantastic price. Seller is willing to Take Back Financing with 20% Down payment !!! Inspection Report will be available monday April 20th, by a Certified Master Inspector. Thank you (id:61852)
Property Details
| MLS® Number | X13002648 |
| Property Type | Multi-family |
| Community Name | 561 - Port Robinson |
| AmenitiesNearBy | Hospital, Park, Place Of Worship |
| Features | Conservation/green Belt, Sump Pump |
| ParkingSpaceTotal | 9 |
| Structure | Shed |
Building
| BathroomTotal | 9 |
| BedroomsAboveGround | 16 |
| BedroomsTotal | 16 |
| Amenities | Separate Electricity Meters |
| Appliances | Water Meter |
| BasementFeatures | Apartment In Basement |
| BasementType | N/a |
| CoolingType | Window Air Conditioner |
| ExteriorFinish | Concrete, Vinyl Siding |
| FireplacePresent | Yes |
| FoundationType | Concrete |
| HeatingFuel | Electric |
| HeatingType | Baseboard Heaters, Forced Air, Not Known |
| StoriesTotal | 2 |
| SizeInterior | 5000 - 100000 Sqft |
| Type | Other |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| FenceType | Partially Fenced |
| LandAmenities | Hospital, Park, Place Of Worship |
| SizeDepth | 159 Ft ,8 In |
| SizeFrontage | 89 Ft ,4 In |
| SizeIrregular | 89.4 X 159.7 Ft |
| SizeTotalText | 89.4 X 159.7 Ft|under 1/2 Acre |
| SurfaceWater | River/stream |
Utilities
| Cable | Installed |
| Electricity | Installed |
| Sewer | Installed |
Interested?
Contact us for more information
Robert F. Parro
Salesperson
755 Queensway East Unit 207
Mississauga, Ontario L4Y 4C5
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April 19 2026 07:15:08
Toronto Real Estate Board
RE/MAX Success Realty