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    For Sale - 40 Barnes Street, St. Thomas, Ontario

    Est payment $2,881/mo
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    Views   1
    Time on Jump  10 day

    AI Summary *

    • Turnkey duplex with a legal basement apartment for great rental income.
    • Main floor unit currently vacant but has strong rental potential.
    • Upper unit leased at $1,550 per month, offering steady cash flow.
    • Large lot with ample parking space and garage for storage needs.
    • Opportunity to add more residential units for increased investment value.




    Investment opportunity awaits - this turnkey duplex with a legal basement apartment is located on a large 70' wide lot on a quiet street in the heart of st thomas and close to all amenities. Main floor unit - accessed through the side door, this unit features 2 bedrooms, livingroom, kitchen with refrigerator and stove included, and 4 piece bath - currently vacant but lease potential of $1,800 per month plus 1/2 hydro. Upper unit - accessed through the front door, kitchen with refrigerator and stove included and a 3 piece bath - currently leased at $1,550 per month on a month - month basis plus hydro. Basement unit - access is through the rear door and features 1 bedroom with a fire coded egress window, and a 3 piece bath - currently vacant but lease potential of $1,200 per month + 1/2 hydro. Utilities - landlord pays for enbridge gas heat and common hydro usage, 3 electrical meters - one for upper, one for main and basement and 1 for common area and the 3 hot water tanks are owned. Outside - the double wide paved drive is large enough to handle 3-4 vehicles with access to the garage for storage of lawn equipment. Laundry - a condensing washer and dryer unit is located in each unit for use by the tenants. Safety - smoke and co detectors on all 3 levels are linked to provide added safety. Income and expenses - based on 2025 costs - insurance $2,787. 92, enbridge gas $1,079. 36, property taxes $2,738. 00, entegrus hydro/water/sewer $1,152 offering a 6. 5% cap rate. Additional residential units - explore adding additional residential units in the rear / side yard or possibly severing the side yard to increase the investment potential of this property. Next steps - with the explosive growth happening in st thomas, don't wait to schedule an appointment today to checkout your next invest opportunity
    Listing IDX13536296
    Address40 Barnes Street
    CitySt. Thomas, Ontario
    Price$599,900
    Bed / Bath5 / 3 Full
    Style2-Storey, Duplex
    ConstructionVinyl Siding
    TypeMulti-Family
    StatusFor Sale

    Subtype DuplexIndoor Features Water Heater OwnedAmenities ParkOwnership FreeholdBasement FullFoundation Concrete, Concrete BlockHeating / Cooling Forced AirHeating Fuel GasSewer Sewer

    Parking 5.00
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    Listing Agency:  COLDWELL BANKER STAR REAL ESTATE

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    40 Barnes Street
    St. Thomas , Ontario
    5 3 $599,900
    Get more info