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. (id:4069)
Address
241 ROSS STREET
List Price
$849,999
Property Type
Multi-family
Type of Dwelling
Multi-family
Transaction Type
Sale
Area
Ontario
Sub-Area
St Thomas
Bedrooms
8
Floor Area
2,929 Sq. Ft.
Lot Size
48.19 x 55.2 FT Sq. Ft.
MLS® Number
X12805024
Listing Brokerage
EXP REALTY
Postal Code
N5R3Y5
Zoning
R3
Site Influences
Public Transit
