664 King 24 Charles Street, Port Colborne

Exceptional new-build, side-by-side triplexes with an adjoining wall, offering a rare blend of strong cash flow and modern luxury. This turnkey investment delivers a solid 5.6% cap rate on entry, based on conservative CMHC underwriting, making it an ideal candidate for CMHC MLI Standard financing or alternative affordable-housing entry options with as little as 5% down. Each triplex features generously sized, well-designed units, highlighted by a three-bedroom, two-storey main unit with high-end finishes, contemporary luxury design, and an expansive ~600 sq. ft. primary bedroom, inclusive of a walk-in closet and ensuite bathrooms. The additional two units offer functional, spacious layouts, with one below-grade unit and one side-entry unit, providing excellent rental versatility. All units feature in-suite laundry and AC for a more premium feel. The property offers ample on-site parking, accommodating more than two spaces per unit, with flexibility for larger vehicles or additional storage. The asset is currently operating with Airbnb use, creating added income potential where permitted. Utilities are structured on a practical equal-billing system, with the main unit responsible for 50%, the side unit 30%, and the basement unit 20%, per property, supporting efficient cost recovery and predictable operating expenses. Turnkey, scalable, and built for performance, this is a rare new-build investment that delivers on both income and quality. (id:1945)