Pre-Approved Triplex Conversion Opportunity
Situated in the heart of St. Catharines’ coveted university district, 55 Powerview Avenue presents a unique investment opportunity that combines immediate cash flow potential with substantial value-add components. This property stands out in the Niagara Region’s competitive real estate market due to its pre-approved triplex conversion status.
Current Configuration and Income Potential
This triplex conversion opportunity is currently structured as a side-by-side duplex featuring:
- Front Unit: Three-bedroom, one-bathroom bungalow-style layout
- Rear Unit: Two-bedroom, one-and-a-half bathroom configuration
- Both units currently generate stable rental income
- Flexible vacancy options available for new purchasers
Development Opportunity Analysis
The property’s most compelling feature is its development potential, centered around an expansive basement that spans the entire footprint of both units. Key advantages include:
- Active municipal permits for triplex conversion
- Full basement spanning both units’ dimensions
- Pre-approved regulatory compliance
- Established precedent for multi-unit development in the area
Strategic Location Benefits
55 Powerview Avenue’s location offers multiple competitive advantages:
- Walking distance to university facilities
- High-demand rental demographic
- Family-friendly neighborhood composition
- Proximity to essential amenities
- Strong public transportation connectivity
Investment Strategy Options
Investors can pursue multiple strategies with this property:
- Owner-Occupant Strategy:
- Live in one unit while generating income from the second
- Future potential for additional income through basement conversion
- Pure Investment Approach:
- Immediate dual-unit rental income
- Market-rate rents in university-adjacent location
- Strong potential for appreciation in growing St. Catharines market
- Value-Add Development:
- Execute permitted triplex conversion opportunity
- Maximize ROI through additional unit
- Benefit from pre-approved permit status
- Capitalize on strong local rental demand
Market Context and Opportunity
St. Catharines’ real estate market continues to demonstrate strong fundamentals, particularly in the university district submarket. This property’s unique combination of current income, development potential, and strategic location positions it favorably within the local market landscape.
