$849,999
Available - For Sale
Listing ID: X12805024
241 ROSS Street , St. Thomas, N5R 3Y5, Elgin
| Exceptional Turn-Key Triplex in St. Thomas! 241 Ross St offers an outstanding cashflow opportunity, featuring a fully renovated three-unit property situated in a desirable and well-established neighbourhood. The property is fully leased with quality tenants and offers separately metered units. Each unit showcases bright, updated interiors with high ceilings, and the property includes parking for up to four vehicles. This is a clean, low-maintenance asset delivering immediate and stable cash flow, with the added flexibility for an owner to occupy one of the units if desired. Importantly, the property achieves a TRUE 7% CAP RATE, calculated conservatively and inclusive of maintenance, professional property management, and vacancy allowance, offering investors a realistic and properly underwritten return, with additional upside potential for a self-managed buyer who can retain the management costs. There is also the opportunity for an owner-occupant to move into one of the units while generating cash flow from the remaining suites, making it an attractive option for both investors and those looking to offset their housing costs. Additionally, there is potential to create a fourth unit in the basement (subject to required zoning approvals and permits), presenting approximately $100K profit potential and further enhancing the overall upside of the investment. Buyer to complete their own due diligence regarding zoning, approvals, feasibility, and financial projections. |
| Price | $849,999 |
| Taxes: | $3211.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 241 ROSS Street , St. Thomas, N5R 3Y5, Elgin |
| Postal Code: | N5R 3Y5 |
| Province/State: | Elgin |
| Legal Description: | PT LT 88 PL 86 YARMOUTH AS IN STH70653 S |
| Directions/Cross Streets: | Ross St and Wellington St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 | |
| Washroom Type 11 | 0 | |
| Washroom Type 12 | 0 | |
| Washroom Type 13 | 0 | |
| Washroom Type 14 | 0 | |
| Washroom Type 15 | 0 | |
| Washroom Type 16 | 0 | |
| Washroom Type 17 | 0 | |
| Washroom Type 18 | 0 | |
| Washroom Type 19 | 0 | |
| Washroom Type 20 | 0 | |
| Washroom Type 21 | 0 | |
| Washroom Type 22 | 0 | |
| Washroom Type 23 | 0 | |
| Washroom Type 24 | 0 | |
| Washroom Type 25 | 0 | |
| Washroom Type 26 | 0 | |
| Washroom Type 27 | 0 | |
| Washroom Type 28 | 0 | |
| Washroom Type 29 | 0 | |
| Washroom Type 30 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 2928.83 |
| Total Area Code: | Square Feet |
| Area Influences: | Public Transit |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | Yes |
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Bus:
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Fax:
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At a Glance:
| Type: | Com - Investment |
| Area: | Elgin |
| Municipality: | St. Thomas |
| Neighbourhood: | St. Thomas |
| Tax: | $3,211 |
| Fireplace: | N |
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