8 PELHAM Rd
458 - Western Hill, St. Catharines, L2S 1P9
FOR SALE
$669,000
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Property Description
Investment Opportunity: Triplex with Expansion Potential in Prime St. Catharines Location Attention savvy investors! Discover an exceptional investment at 8 Pelham Rd, St. Catharines. This fully tenanted triplex, featuring 2 x 1-bedroom units and 1 x 3-bedroom unit, offers immediate income and boasts significant upside potential. With city-approved expansion possibilities, this property can accommodate an additional 4 units, transforming it into a 7-unit complex. Strategically located just steps from the vibrant downtown core, it ensures high demand and growth potential. Recent updates include a new boiler (2023), roof (2020), and upgrades in Units 1 and 3. Whether you're seeking stable returns or looking to capitalize on development opportunities, this property is a turn-key investment that positions you to profit from St. Catharines' growing market.
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Property Details
Street
Community
City
Property Type
Multiplex, 1 1/2 Storey
Approximate Sq.Ft.
1500-2000
Lot Size
56' x 118'
Fronting
West
Taxes
$3,100 (2024)
Basement
Crawl Space
Exterior
Vinyl Siding
Heat Type
Radiant
Heat Source
Other
Air Conditioning
Wall Unit
Water
Municipal
Parking Spaces
2
Garage Type
Detached
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St. Catharines Market Statistics
St. Catharines Price Trend
8 PELHAM Rd is a 5-bedroom 3-bathroom home listed for sale at $669,000, which is $344,000 (105.8%) higher than the average sold price of $325,000 in the last 30 days (January 19 - February 17). During the last 30 days the average sold price for a 5 bedroom home in St. Catharines declined by $98,560 (23.3%) compared to the previous 30 day period (December 20 - January 18) and down $405,000 (55.5%) from the same time one year ago.Inventory Change
There were 4 5-bedroom homes listed in St. Catharines over the last 30 days (January 19 - February 17), which is down 50.0% compared with the previous 30 day period (December 20 - January 18) and up 300.0% compared with the same period last year.Sold Price Above/Below Asking ($)
5-bedroom homes in St. Catharines typically sold ($44,900) (13.8%) below asking price over the last 30 days (January 19 - February 17), which represents a $35,920 decrease compared to the previous 30 day period (December 20 - January 18) and ($54,700) more than the same period last year.Sales to New Listings Ratio
Sold-to-New-Listings ration (SNLR) is a metric that represents the percentage of sold listings to new listings over a given period. The value below 40% is considered Buyer's market whereas above 60% is viewed as Seller's market. SNLR for 5-bedroom homes in St. Catharines over the last 30 days (January 19 - February 17) stood at 25.0%, down from 62.5% over the previous 30 days (December 20 - January 18) and down from 200.0% one year ago.Average Days on Market when Sold vs Delisted
An average time on the market for a 5-bedroom 3-bathroom home in St. Catharines stood at 18 days when successfully sold over the last 30 days (January 19 - February 17), compared to 19 days before being removed from the market upon being suspended or terminated.Listing contracted with Revel Realty Inc., Brokerage
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