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$ 849,999
Est. payment | /mo
8 Beds
3 Baths
2,500 SqFt
$ 849,999
Est. payment | /mo
8 Beds
3 Baths
2,500 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Approx. Sqft 2500 - 3000
Square Footage 2,500 sqft
Price per Sqft $339
Subdivision St. Thomas
MLS® Listing ID X13426966
Bedrooms 8
Property Description
CASH FLOWING 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. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling Central air conditioning, Window air conditioner
Exterior
Parking Features Yes
View Y/N No
Attached Garage No
Total Parking Spaces 4
Garage Yes
Private Pool No
Building
Story 2
Sewer Sanitary sewer
Listed by EXP REALTY
NEARBY SCHOOLS & PROPERTIES
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