241 Ross St, St. Thomas, Ontario

Multi-Family for Sale in St. Thomas

241 Ross St, St. Thomas, ON

  • CA$849,999
  • 8 BEDS
  • 3 BATHS
  • CA$849,999

Multi-Family for Sale in St. Thomas

241 Ross St, St. Thomas, ON

  • CA$849,999
  • 8 BEDS
  • 3 BATHS
  • CA$849,999

Key Facts

  • MLS® #: X13426966
  • Property ID: SIRC3410840
  • Property Type: Residential, Triplex
  • Interior Area¹: 2500-3000 sq.ft.
  • Lot Size¹: 48.19x55.2 ft.
  • Bedrooms: 8
  • Bathrooms: 3
  • Parking Spaces: 4
  • Listed By:
  • EXP REALTY

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.

Listing Agents

EXP REALTY

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Location

241 Ross St, St. Thomas, Ontario, N5R 3Y5 Canada

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This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the Toronto Real Estate Board. The data is deemed reliable but is not guaranteed to be accurate.
¹The value refers to the total area of living space within a residential structure or the property lot size. All information regarding lot or house size is deemed reliable but not guaranteed and must be verified by the purchaser. Measurement definitions may vary by region.
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