$2,990,000
589 Ontario Street, St. Catharines, ON L2N 4N9
32 beds21 baths16 parking 5000 + ft²
Key facts
- MLS®
- X13701644
- Status
- New
- Type
- Multiplex
- Taxes
- $26,246
- Size
- 5000 + ft²
- Parking
- 16 total
- Lot
- 30238 Feet
- Listed
- 2026-08-21
- Brokerage
- ROYAL LEPAGE NRC REALTY COMPASS ESTATES
- Cross street
- Lakeport Rd & Lakeshore Rd
Description
Rare opportunity to acquire a 21-unit multifamily investment in St. Catharines' desirable north end with exceptional income today and significant redevelopment potential for tomorrow. With 6 lots providing frontage on both Ontario Street and Embassy Avenue, the property currently generates an approximate 7% cap rate, with a clear path to approximately 9%+ cap rate through lease-up and rental optimization. The site has been the subject of a pre-consultation process with the City, identifying future redevelopment potential (buyer to complete their own due diligence). Investors benefit from strong in-place cash flow while pursuing future planning approvals, creating a unique opportunity to generate income during the entitlement process. Whether you're seeking a stable long-term hold, a value-add apartment investment, or a strategic land assembly with development upside, this offering presents exceptional flexibility in a prime location.
IDX listing data provided by AMPRE / TRREB. Information is believed reliable but not guaranteed.