A rare opportunity to acquire a fully legal and vacant 4-plex in the growing city of St. Thomas, allowing the new owner to establish market rents from day one. This updated building offers an attractive unit mix: one 4 bedroom unit, two 3 bedroom units, and one 2 bedroom unit. Major improvements over the past 10 years include updated kitchens, modernized electrical with 100 amp service per unit, interior and exterior waterproofing, an updated roof with 50 year shingles, updated windows, refinished floors, fresh paint, updated exterior doors, and renovated bathrooms in three of the units. Additional features include basement storage, owned water heaters, municipal sewer connection, and in-unit laundry potential. Set on a large 0.59 acre lot, the property also offers underutilized land with possible future development, subject to approvals. Located minutes from parks, schools, shopping, downtown St. Thomas, London, and Hwy 401. St. Thomas continues to grow as a Southwestern Ontario investment market, supported by major regional employers including Volkswagen/PowerCo, Amazon, and Magna/Formet, along with ongoing downtown revitalization and long-term housing demand. With vacant possession, a legal 4-plex configuration, extensive updates, and future upside, 50 Fairview is a compelling turnkey investment opportunity. (id:4069)
Address
50 FAIRVIEW AVENUE
List Price
$999,900
Property Type
Multi-family
Type of Dwelling
Fourplex
Transaction Type
Sale
Area
Ontario
Sub-Area
St Thomas
Bedrooms
12
Bathrooms
4
Floor Area
3500 - 5000 Sq. Ft.
Lot Size
55.6 x 249.2 FT ; SEE REMARKS Sq. Ft.
Lot Depth
249 ft ,2 in
Frontage Length
55 ft ,7 in
MLS® Number
X13490074
Listing Brokerage
ROYAL LEPAGE TRILAND REALTY
Basement Area
Full (Unfinished)
Postal Code
N5R4X6
Zoning
R3-5
Parking Places (Total)
10
Site Influences
Park, Place of Worship, Schools, Public Transit
Features
Irregular lot size
Community Features
Community Centre
Heat Source
Natural gas
Heat Type
Forced air, Heat Pump
Cooling Features
Central air conditioning, Wall unit
Foundation Details
Poured Concrete
Number Of Floors In Building
2
Water Source
Municipal water
Sewer
Sanitary sewer
