+15 more
8
Bedrooms
2,929 sqft
Living Area
5
Parking
About This Property
This 8-bedroom multi-family in St. Thomas offers 2,929 sqft of living area. The property has lot dimensions of 48.19 x 55.2 FT. The home features forced air, natural gas heating, fully air conditioned. Highlights include a 5-car garage.
MLS Remarks
Exceptional 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. (id:60351)
Property History
MLS# X12805024| Date | Event | MLS# | Price | Change |
|---|---|---|---|---|
| Feb 20, 2026 | Listed For Sale | X12805024 | $849,999 | — |
MLS data tracked by our system. Earlier records or land registry transfers may not be shown.
Overview
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