Rare 7-Unit Investment Opportunity in Prime St. Thomas Location.This unique two-storey six-plex offers a rare opportunity for investors, featuring six spacious 2-bedroom units plus a separate bachelor apartment in the basement, for a potential total of 7 rental units and 7 bathrooms. One of the 2-bedroom units can easily be converted to a 3-bedroom by incorporating the bachelor suite, providing additional income flexibility.Originally built in 1870 and extensively renovated in 2003, the property also includes four modern units added at the rear along with a detached garage. The exterior was professionally stripped and refinished in brick, giving the building a refreshed and durable finish.Interior upgrades include tile flooring throughout, granite countertops, and jetted tubs in six units. Unit 1 features a high-end kitchen with plywood cabinetry and maple doors, while Unit 2 showcases three skylights that flood the space with natural light.Tenants benefit from efficient gas radiant heating with wall-mounted units, along with seven owned water heaters (four recently replaced). On-site coin laundry is available, with machines replaced within the last 3-4 years.Major updates include newer windows and entry doors, plus metal roofs installed within the past seven years on both the main building and detached garage.The property backs onto Elevated Park and across from Jumbo the Elephant, one of the city's most recognized landmarks.Additional highlights include parking for 9 vehicles, with extra overnight parking available across the street. A 600 sq. ft. garage offers four large storage units, with one currently allocated for tenant use.This turnkey investment combines strong income potential, extensive upgrades, and a prime high-visibility location in one of St. Thomas's most recognizable areas. (id:4069)
Address
62 TALBOT STREET
List Price
$1,475,000
Property Type
Multi-family
Type of Dwelling
Multi-family
Transaction Type
Sale
Area
Ontario
Sub-Area
St Thomas
Bedrooms
12
Bathrooms
7
Floor Area
3000 - 3500 Sq. Ft.
Lot Size
58.2 x 169.9 FT Sq. Ft.
MLS® Number
X12858868
Listing Brokerage
ELGIN REALTY LIMITED
Basement Area
N/A
Postal Code
N5P1A4
