3651 Elm St - Apartments FOR SALE


Ridgeway, ON L0S 1N0
$599,900 CAD
289-210-4764

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$599,900 CAD
Apartments - FOR SALE
null | Request Cap Rate

3651 Elm St
Ridgeway, ON L0S 1N0


HIGHLIGHTS

  • Prime downtown Ridgeway location near shops, restaurants, farmers market, and trails.
  • Tenants manage their own utilities with separate hydro and gas meters and individual furnaces.
  • Roof is approximately seven years old and the building sits on a solid foundation.
  • Property requires significant work but offers strong rental income and location advantages.

OVERVIEW

Unlock the potential of this expansive 3,840 sq. ft. brick fourplex, ideally located in central Fort Erie. Nestled in the heart of downtown Ridgeway, it offers convenient access to shops, restaurants, the farmers market, and scenic recreational trails—making it highly attractive to prospective tenants. Each of the four units features two bedrooms, with some showcasing original wood flooring. Currently, three units are rented, and one is vacant, presenting an immediate opportunity for occupancy. The property is equipped with five separate hydro meters, four gas meters, and four individual gas furnaces, allowing tenants to manage their own utilities independently. A full basement provides valuable storage space or potential for future development. The roof, approximately seven years old, sits atop a solid foundation, making this an ideal project for a visionary investor ready to restore and enhance its value. Situated on a generous 53.15 x 198.54 ft. lot, there may also be potential to expand the existing structure or add a second building (buyer to verify). While the property requires significant work, its size, prime location, and existing rental income make it a compelling value-add investment opportunity in one of Fort Erie’s most desirable neighborhoods.

FOR SALE DETAILS

PRICE

$599,900 CAD

PRICE/SF

$156 CAD /SF

# OF UNITS

4

PRICE/UNIT

$149,975

CAP RATE

Request Cap Rate

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,964 SF

ZONING

R2

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Phil SmithRoyal LePage NRC Realty, BrokerageMore Info
289-210-4764

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Phil SmithRoyal LePage NRC Realty, BrokerageMore Info
289-210-4764

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.