$679,900
428 THOROLD Road
Beds
5
Baths
3
Sqft
—
Year
1948
Type
Multi-family
Suite
Suite potential
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Welland. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Turnkey LEGAL TRIPLEX in the heart of Welland delivering strong, reliable income. Situated on an exceptional 60 x 153 ft corner lot, this property offers rare outdoor space and the potential for up to 10-car parking, ideal for tenants and future flexibility. This well maintained building features three self-contained units, each with separate hydro meters and private in-suite laundry, a highly desirable setup for both investors and end-users. A shared front foyer provides access to the main and upper units, while the lower unit enjoys a separate rear entrance for added privacy. A sump pump has also been installed for added peace of mind. **UNIT 1 is bright featuring a comfortable living space, eat-in kitchen, one bedroom, four-piece bath, and its own laundry (Currently Vacant market rent $1,400 + 30% utilities) offering immediate leasing or owner-occupancy potential. **UNIT 2 offers both main floor and 2nd floor living, a spacious layout with a large living area, oversized kitchen with ample cabinetry, two bedrooms, and a four-piece bathroom (Tenanted $1,650 + 40% utilities). **The LOWER UNIT 3 is a 2 bed room, fully finished with a newer kitchen, updated bathroom, and modern flooring, offering a large living area, dedicated dining space, and in-suite laundry (Currently Vacant market rent $1,575 + 30% utilities). Ideal for investors seeking a low-maintenance asset with strong cash flow, or buyers looking to live in one unit while generating rental income. Extensive upgrades include full legalization of Triplex in 2023 with a 200-amp electrical panel, upgraded 1? plumbing, and complete renovation of the lower unit (kitchen, bath, flooring, paint, fixtures). In 2026, the upper unit was further improved with a new kitchen, doors, baseboards, and fresh paint throughout. (id:65958)
- Subtype
- Multi-family
- Structure
- Triplex
- Community
- 767 - N. Welland
- Common interest
- Freehold
- Living area
- 1,450 square feet
- Parking
- 10 total
- Stories
- 1.5
- On market
- Apr 28, 2026
- Status changed
- Apr 28, 2026
- Annual tax
- $3,360
- Zoning
- RL1
- Photos
- 41
- MLS#
- 40824690
- Area
- WELLAND
Features and systems
Basement
Heating
Cooling
Exterior
Lot
Cash on cash
-6.77%
Cap rate
3.51%
GRM
16.7
Break-even rent
$4,208
Financing
Operating expenses (monthly)
Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.
Mortgage estimate
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 28, 2026.