view of front of house with covered porch, an outbuilding, and a detached garage Features: porch, outdoor structure, detached garage More Photos

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    For Sale - 331 Erie Street, Central Elgin, Ontario

    Est payment $5,204/mo
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    Views   1
    Time on Jump  79 day

    AI Summary *

    • Income property with triplex zoning, fully tenanted year-round.
    • Steps away from Main Beach and all local amenities.
    • Low-maintenance steel clad building with large backyard and double garage.
    • Fully renovated in 2022 with new appliances and windows.
    • Ample parking for all units plus rental income from garage storage.




    Welcome to your terrific income property in the heart of the village with steps to the main beach! All amenities within walking distance of cafes, groceries, art galleries, live music venues, live theatre events, parks, schools, world class restaurants, and port stanley is open year-round! Grandfathered-in as a triplex, fully tenanted with 3 great tenants on year-round leases. This very low-maintenance steel clad building & detached double car garage sits on a double lot with a large grassy backyard. Fully renovated in 2022 with all new metal on roof and siding, all new appliances, ungraded insulation, all new vinyl windows & doors, original hardwood flooring combined with new tile flooring. Unit 1 is approx 1200sf on 2 levels with 3 bright bedrooms & 1 modern bathroom with skylight on the upper floor, features a kitchen combined with laundry, and dining room, then opens up to a large living room with lots of natural light, front windows on both levels have water views. Unit 2 boasts approx 675sf with an open concept living room /eat-in kitchen area, with 1 bdrm, 3 pc bath & laundry upstairs. Unit 3 is larger than it looks, with almost 720sf on one floor with a den & living room at one end and a bedroom at the other end, with an open concept eat-in kitchen with island flowing into the dining room in the middle with enough space for a small lounge area to watch tv. A gorgeous 4 pc bath with new fixtures, tiles, and a pocket door. Enter this unit from the driveway /backyard into the sunroom. Parking available for all units with large double wide driveway for 6 vehicles, the double detached garage can be used as a garage but atm 2 interior 100sf sections are rented by 2 tenants as their storage for an extra $100/ month each. Contact la for more info and book your showing as soon as possible! La is to be onsite for all showings. Survey is available in the photos. A 5% cap rate minimum is achievable here. See the media tabs for an excellent overview of this property.
    Listing IDX12167677
    Address331 Erie Street
    CityCentral Elgin, Ontario
    Price$1,049,900
    Bed / Bath5 / 3 Full
    Style1 1/2 Storey, Triplex
    ConstructionMetal/Steel Siding
    Land Size0.2
    TypeMulti-Family
    StatusFor Sale

    Subtype TriplexIndoor Features Carpet Free, Separate Hydro Meter, Upgraded InsulationOutdoor Features Deck, Landscaped, Porch, Year Round LivingAmenities Arts Centre, Beach, Golf, Lake Access, School Bus Route, MarinaOwnership FreeholdViews Clear, Lake, SkylineWaterfront WaterfrontCommunityAppliances Hard/Low Nap FloorsBasement Crawl SpaceFoundation ConcreteHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 8.00
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    Listing Agency:  CENTURY 21 FIRST CANADIAN CORP
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    331 Erie Street
    Central Elgin , Ontario
    5 3 $1,049,900
    Get more info