32 State Street, Welland

Great investment potential! This property is zoned RM- Residential Multiple and is also under the CIP program where the city of Welland will aid with reducing development charges. This property is a double lot close to everything- down the street from the new factory being built on Ontario Street, Steps from the canal where they host live music festivals and canal days (you can listen to the music on your balcony), walking distance to the main downtown area where you can take advantage of great stores and food/beverages, steps from NEW doctors office/pharmacy and much more! The lot includes a spacious fenced backyard with a deck, paved patio area, generous lawn and a storage shed — great for tenants or outdoor amenity space. You could potentially sever the lot and build a smaller dwelling to the left of the house or you can add a garden suite. You can convert the current dwelling into 3 units as the house has 3 separate entrances- main entrance, rear entrance to basement and side entrance to upstairs. The interior already lends itself to conversion: there is a large open main-floor area with wood-tone laminate flooring and exposed support columns, multiple bedrooms with laminate/vinyl plank flooring (one bedroom features a ceiling fan and a built-in wall safe), a bathroom with tub/shower combo and tiled surround, and an additional modern bathroom with tiled shower and vanity. The unfinished basement/mechanical area contains the furnace, hot water tank and sump pump and offers extra storage/workspace for renovation. OR you can start over and demolish the current dwelling and build a 9-unit apartment at 500 sq ft units. The city of Welland is in favour and can help with some of the charges assuming you will build "affordable housing". CMHC may also lend if the buyer puts in high efficiency products. Many different ways of profiting from this property and providing a great opportunity for the community! Book your private showing today! (id:1945)