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For Sale - 241 ROSS Street, St. Thomas, Ontario

241 Ross Street

St. Thomas , Ontario

8 3 $849,999

Est payment $4,082/mo

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Time on Jump 27 day

AI Summary *

Fully renovated triplex with strong cash flow potential in a desirable neighborhood.
Three leased units with quality tenants and separately metered utilities.
Bright, updated interiors and high ceilings create a welcoming atmosphere.
Parking available for up to four vehicles, making it convenient for tenants.
Potential for a fourth unit in the basement offers additional profit opportunities.

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Purchase Price

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Down Payment:
$ 42,499 ( 5% )

First Time Buyer:
Yes No

New Build:
Yes No

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 IDX13426966

Address241 ROSS Street

CitySt. Thomas, Ontario

Price$849,999

Bed / Bath8 / 3 Full

Style2-Storey, Triplex

ConstructionBrick

TypeMulti-Family

StatusFor Sale

Extras

Subtype TriplexIndoor Features Water HeaterOwnership FreeholdBasement Development PotentialFoundation ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

Market Info

Parking 4.00

Listing Agency:
EXP REALTY

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Listing Agency:
EXP REALTY

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For Sale - 241 ROSS Street, St. Thomas, Ontario

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