About 23 Avenue Place
Legal Triplex! Located downtown Welland, a well maintained home and ready to be leased. The units are vacant and when rented it makes an exceptional cash flow positive investment. When it was rented in 2024, the property was grossing $56,700.00 annually and is now offered at a 7% cap rate. Unit 1 (2-beds) was renting for $1,750, Unit 2 (3-beds) for $1,650.00, and unit 3 (bachelor) for $1,300.00. Located just steps from the vibrant Welland Farmers' Market, Merritt Island Park, the Welland River, and the city's revitalized downtown core, this charming turn-of-the-century home is ideally located for convenience and lifestyle. Live in one unit while generating rental income from the others, or co-purchase with a partner to build equity together. The home has been well maintained and retains much of its original charm, while offering updated functionality. Updates: Electrical (2024), Bathroom Renovated 3rd floor (2025), New Appliances in 3rd floor (2025), Insulated 2nd floor ceiling to improve with sound from top floor (2025). Coined washer and dryer are not included but available for purchase if needed. Boiler has been serviced every year. Separate hydro and gas meters and three hot water heaters. This is a solid house and investment.
Features of 23 Avenue Place
| MLS® # | 40730627 |
|---|---|
| Price | $549,000 |
| Bedrooms | 5 |
| Bathrooms | 3.00 |
| Square Footage | 2,821 |
| Acres | 0.00 |
| Type | Residential Income |
| Sub-Type | Multi-3 Unit |
| Status | Active |
Community Information
| Address | 23 Avenue Place |
|---|---|
| Area | Welland |
| Subdivision | 768 - Welland Downtown |
| City | Welland |
| County | Niagara |
| Province | ON |
| Postal Code | L3B 4B2 |
Amenities
| Parking Spaces | 3 |
|---|---|
| Parking | Detached Garage |
| # of Garages | 1.00 |
| Is Waterfront | No |
Interior
| Interior Features | Separate Hydro Meters |
|---|---|
| Appliances | Refrigerator, Stove |
| Heating | Radiator |
| Cooling | None |
| Fireplace | No |
| Has Basement | Yes |
| Basement | Separate Entrance, Full, Unfinished |
Exterior
| Lot Description | Ample Parking, Business Centre, Dog Park, Highway Access, Hospital, Library, Marina, Park, Public Parking, Public Transit, Schools, Trails |
|---|---|
| Roof | Asphalt Shing |
| Construction | Brick, Vinyl Siding |
| Foundation | Concrete Block |
Additional Information
| Date Last Updated | October 17th, 2025 |
|---|---|
| Zoning | DMC |
Listing Details
| Office | Coldwell Banker Community Professionals |
|---|