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$ 1,249,000
Est. payment | /mo
$ 1,249,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision St. Thomas
MLS Listing ID X12225944
Annual Tax Amount $4,991
Tax Year 2024
Property Sub-Type Investment
Property Description
A fantastic opportunity to own a fully legal and vacant extensively upgraded 4-plex where you can set your own rent in the fast-growing city of St. Thomas. This building offers a desirable unit mix of one 4-bedroom unit, two 3-bedroom units, and one 2-bedroom unit. Nearly every major component has been updated over the past 10 years, including new kitchens, modernized electrical (100 amps per unit), full waterproofing (interior & exterior), refinished floors (2024), updated roof (50 year shingles) and windows, fresh paint (2024), three units have updated bathrooms and updated exterior doors on all units. Additional highlights include basement storage, in-unit laundry potential, owned water heaters (x4), municipal sewer connection, and the potential for a 5th unit in the basement. Situated on a large 0.61-acre lot with significant under-utilized land offering potential for future units, parking, or storage (concepts for up to 16 units supported by recent planning study; zoning amendment required). Ideally located minutes from parks, schools, shopping, and downtown amenities with quick access to London and Hwy 401. St. Thomas is an affordable, rapidly growing community with major new employers (Volkswagen EV plant, Amazon, Magna), a revitalized downtown core, and strong long-term rental demand an ideal turnkey investment with future upside.
Location
Province ON
County Elgin
Community St. Thomas
Area Elgin
Zoning R3-5
Interior
Cooling Yes
Inclusions Fridge x2, microwave x3. stove x2
Exterior
Parking Features None
Utilities Available Yes
Building
Lot Description Lot
Lited by EXP REALTY
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