$1,199,999 - 5464 Lewis Avenue, Niagara Falls
Multi-Family for Sale in Niagara Falls
109 days on market- MLS Number
- X12424757
- Property Type
- Multi-Family
- Status
- active
- Days on Site
- 109
- Bedrooms
- 5
- Bathrooms
- 4
- Square Feet
- 1,100 - 1,499 sqft
- Neighbourhood
- Niagara Falls
- Listing Brokerage
- Real Broker Ontario Ltd.
Prime Investment with Severance Potential! Welcome to 5464 Lewis Avenue, in the heart of Niagara Falls. This renovated triplex offers 5 bedrooms across three fully rented units, an ideal turn-key investment. Extensively updated just three years ago with over $150,000 in renovations, including a new roof and modern finishes throughout, each unit has been thoughtfully refreshed to attract quality tenants and maximize rental income. Sitting on a massive lot, this property also presents rare future development potential. The seller is only one step away from completing the severance process, positioning this as not just an immediate income generator, but also a future growth opportunity for savvy buyers. With all units currently occupied, major upgrades complete, and severance nearly finalized, this triplex is a true gem in Niagara Falls. Whether you're expanding your rental portfolio or looking to capitalize on redevelopment, 5464 Lewis Avenue offers exceptional value and opportunity.
Estimate your monthly payments for this property
Estimated Payment
$5,308.00/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Niagara Falls
Niagara Falls is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Niagara Falls
- •Convenient location in Niagara Falls
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Niagara Falls offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
5464 Lewis Avenue, Niagara Falls
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Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $1091/sqft, this property is priced in line with current Niagara Falls market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 109 days on site, this property has exceeded the typical selling timeline for Niagara Falls. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Excellent Flexibility
With 5 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Niagara Falls.
Bathroom Count Matters
With 4 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Niagara Falls properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $5,000 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.
Let's See It Together
Photos only tell part of the story. During our showing, I'll point out things the camera doesn't capture: neighbourhood feel, natural light quality, traffic noise, and overall condition. I'll also share what comparable homes have sold for and help you craft a winning strategy if you decide to move forward.