Property Information:

Fantastic investment opportunity in the growing city of St. Thomas! This 1.5-storey legal triplex offers strong income with long-term tenants in place and significant upside as current rents are well below market. The property features three units plus a bonus detached shop that is leased for additional monthly revenue. The main front 2-bedroom unit has been fully updated with new flooring, trim, lighting, doors, hardware, a modern kitchen with updated appliances (fridge, stove, dishwasher, washer & dryer), and a stylish bathroom with a tiled shower. The upper studio unit has also been renovated and includes a gas fireplace, with the potential to convert it into a 1-bedroom by adding a wall. The rear 1-bedroom unit is efficiently heated with electric baseboards. Tenants pay separately metered hydro. The landlord pays water and heat for the main and upper units. Rents: 2-bedroom at $1,650, 1-bedroom at $666.25, and studio at $556.58. The detached rear shop provides an additional $515/month. One tenant is on a lease; the other two are month-to-month. Major improvements include: new roof and underlayment (2022), furnace replaced (2017), owned water heaters (2016), fresh exterior painting, and a new window in Unit A. A small lot across the street (26 Station St) is included in the sale, offering 3 extra parking spaces for a total of 4-5. This is a turnkey, low-maintenance income property with excellent future potential in a high-demand rental area. A great addition to any investor's portfolio. (id:27)

Building Features:

Style: Multiplex
Building Type: Triplex
Basement Development: Unfinished
Basement Type: Crawl space
Exterior Finish: Aluminum siding
Floor Space: 2000 - 2500 sqft
Foundation Type: Concrete
Heating Type: Baseboard heaters, Forced air, Not known
Heating Fuel: Natural gas
Cooling Type: Central air conditioning
Appliances: Dishwasher, Dryer, Stove, Washer, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 4
Bathrooms: 3
Floor Space (approx): 2000 - 2500 Square Feet
Irregular: Yes
Lot Depth: 120 Feet
Lot Frontage: 42 Feet
Lot Size: 42 x 120 FT
Zoning: RES
Sewer: Sanitary sewer
Parking Type: Carport, No Garage
No. of Parking Spaces: 4

Courtesy of: EXP REALTY

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Demographic Information of 25 STATION STREET, St. Thomas, Ontario, N5P 2W8

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$72,553.86

Average Number of Children

1.69

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

27.51 %

High school certificate or equivalent

40.63 %

Apprenticeship trade certificate/diploma

4.22 %

College/non-university certificate

20.59 %

University certificate (below bachelor)

0.05 %

University Degree

7.0 %

Commuter

Travel To Work

By Car

88.27 %

By Public Transit

0.0 %

By Walking

5.38 %

By Bicycle

0.0 %

By Other Methods

6.35 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

43.26 %

Houses

56.74 %

25 STATION STREET, St. Thomas, Ontario, N5P 2W8