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$ 550,000
Est. payment /mo
Price Dropped by $79K
4446 Morrison ST Niagara Falls, ON L2E 2B3
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision 210 - Downtown
MLS Listing ID X12893760
Tax Year 2026
Property Sub-Type Vacant Land
Property Description
Rare Permit-Ready Multifamily Development Opportunity in a prime location within walking distance to Niagara University, City buildings, the new GO Transit station, and the international bridge to the USA.Fully approved site plan with building permit ready for construction of a six-unit residential rental project consisting of two semi-detached buildings. Each building includes three spacious three-bedroom units, including basement apartments, designed to meet strong and growing demand for larger family-oriented rental housing.The property benefits from a demolition permit already issued, which may result in reduced development charges compared to a typical new build. In addition, recent federal housing initiatives regarding HST on new residential construction may provide further financial advantages for qualified projects. Buyers are encouraged to conduct their own due diligence to fully understand applicable incentives, exemptions, and cost savings.Based on market rental estimates of approximately $2,200 per unit per month, the completed project may achieve gross annual rental income of approximately $158,400. Using standard vacancy and operating assumptions, the project presents the potential for strong long-term rental performance once stabilized.This offering presents an excellent opportunity for investors or developers seeking a small-scale multifamily project with approvals already in place, significantly reducing development timelines, entitlement risk, and potentially lowering overall development costs.A rare chance to acquire a fully entitled six-unit rental development in a high-demand and rapidly evolving area.
Location
State ON
County Niagara
Area Niagara
Rooms
Kitchen 0
Exterior
Waterfront Description None
Lot Frontage 50.0
Lot Depth 150.0
Others
ParcelsYN No
Listed by RE/MAX NIAGARA REALTY LTD, BROKERAGE
Nearby Locations