56 West Street, Port Colborne, ON
Property Highlights
Welcome to this remarkable 3-Storey multiplex located in the coveted neighborhood of 878 - Sugarloaf. Expertly crafted featuring premium stone and other construction, this residence presents an exceptional opportunity offered at $1,995,000 to acquire a beautiful home in a highly sought-after setting. Designed for both comfortable daily living and elegant entertaining, the layout maximizes natural light, functional flow, and lifestyle utility.
- 5 Bedrooms and 5 Bathrooms with 5 functional kitchens
- Generous living space spanning 3500-5000 sqft on a premium 56 x 165 ft lot
- Features a unfinished, full basement, adding superb versatility for recreation, a home gym, or extra storage
- 7.0 total parking spaces available with a convenient detached configuration
- Notable attributes: Storage
- equipped with window unit(s) central cooling and highly efficient water heating via gas
Description
Attention Investors - Great waterfront opportunity! Situated along the canal-side Promenade in downtown Port Colborne, 'Cornerstone Guest Suites' is a charming and beautifully restored 5-unit (5,000 sq.ft.) property offering exceptional versatility and investment potential. This remarkable building could be converted into condos, boutique hotel, commercial use or continue operating as an apartment building or five guest suites. The top floor features an impressive 1,160 sq. ft. penthouse suite with breathtaking panoramic views of the canal and lake - ideal for owner to occupy. With potential for a boutique hotel, commercial space on the main level and residential rentals on the upper floors, this property offers endless possibilities. Future expansion or redevelopment opportunities add even more value. A rare chance to own a prime waterfront location where ships from around the world glide past your window. Can also be purchased with neighbouring property at 62 West St - known as the 'Captains Quarters Guest Suites' (MLS X12983494)
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Pricing & Value Insights
Data-driven valuation for 56 West Street, Port Colborne, ON L3K 4C8
Based on 0 recent similar sales in the pocket.
Properties in this area are selling at a steady pace.
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About Purchasing a Home in Port Colborne, ON
For a property listed at $1,995,000 in Port Colborne, the legal minimum down payment is $399,000 under current Canadian banking regulations. This calculation applies a 5% requirement on the first $500,000, 10% on the next $499,999, and a flat 20% on any amount exceeding $1,000,000.
Additionally, buyers in Ontario must budget for the Provincial Land Transfer Tax, which is estimated at $36,375 for this transaction. As this listing is in Port Colborne (outside the City of Toronto), no additional municipal land transfer tax is levied, resulting in total estimated land transfer taxes of $36,375.
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Disclaimer: AI Insights are generated by an automated system and should be used for informational purposes only. While we strive for accuracy using current market data and deep-learning models, these assessments do not constitute professional real estate, legal, or financial advice. All property values, predictions, and scores are estimates. We strongly recommend verifying all property details and conducting independent due diligence with a licensed professional before making any purchase decisions.
