589 Ontario Street, St. Catharines

For sale · $2,990,000

32 beds · 21 baths · Multiplex · 5000 + sq ft

Photo of 589 Ontario Street

About this home

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.

Listing details

  • MLS® number: X13701644
  • Listed on August 21, 2026
  • 9 photos

Listing brokerage: ROYAL LEPAGE NRC REALTY COMPASS ESTATES

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