589 Ontario StreetSt. Catharines, Niagara, ON, L2N 4N9
ROYAL LEPAGE NRC REALTY COMPASS ESTATES
589 Ontario StreetSt. Catharines, Niagara, ON, L2N 4N9
ROYAL LEPAGE NRC REALTY COMPASS ESTATES
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Listing History
Buy/sell history for 589 Ontario Street, St. Catharines, ON L2N 4N9
| Date Start | Date End | Event | Price | MLS# |
|---|---|---|---|---|
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Current valuation for 589 Ontario Street, St. Catharines, ON L2N 4N9. Listed for $2,990,000 on 2026-10-19
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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.
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$2,990,000
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