REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Tue

Feb

Wed

Feb

Thu

Feb

Marlene Boyle

marlene@boyleteam.ca +1(905) 926-5554

$ 1,250,000

Est. payment -/mo

Save Virtual Tour

Active

331 Erie ST Central Elgin, ON N5L 1E3

5 Beds

3 Baths

UPDATED:

02/03/2025 10:41 PM

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2500-3000

Subdivision Port Stanley

MLS Listing ID X9035576

Style 2-Storey

Bedrooms 5

Annual Tax Amount $4,828

Tax Year 2024

Property Description

Boost your real estate portfolio with this low-maintenance, high-yield investment opportunity! This 2,798 sq. ft. fully renovated triplex comes with a detached 20x33 double car garage on a spacious lot, offering long-term value and strong rental income. Fully tenanted by last Sept 1st with three excellent long-term tenants on one-year leases at current market rents, ensuring immediate cash flow. Low taxes enhance profitability, while extensive 2022 renovations include modern kitchens and baths, upgraded finishes, and original hardwood flooring throughout, with new flooring added where needed. Each unit has separate hydro meters and upgraded insulation, and the metal-clad exterior ensures durability with minimal upkeep. Dont miss this turnkey, worry-free investment! Unit #1: A spacious 3-bedroom, 1 full 4-piece bath home spanning approximately 1,200 sq. ft. over two levelsideal for families or professionals seeking ample living space.Unit #2: A cozy yet functional 1-bedroom, 1 full 3-piece bath unit covering approximately 675 sq. ft. across two levelsperfect for singles or couples.Unit #3: A bright and airy 1-bedroom + den, 1 full 4-piece bath unit with an open-concept layout on one floor, including a beautiful sunroomapproximately 700 sq. ft. of comfortable living. All units come equipped with in-suite laundry and full appliances. With immediate possession, the buyer will assume all current tenants, providing steady cash flow while offering the flexibility to convert units into high-revenue short-term rentals as they become available. This is a rare opportunity to maximize returns in a sought-after area. Legal Non-Conforming Triplex under R1 zoning. Seamless transition. Assume tenants and convert units as they vacate. 24-hour notice required for showings Serious inquiries only. Don't miss out on this versatile investment opportunity! See media tabs for more visual information. Book your showing asap!

Location

Province ON

County Elgin

Community Port Stanley

Area Elgin

Rooms

Family Room Yes

Basement Crawl Space

Kitchen 3

Interior

Interior Features Upgraded Insulation, Carpet Free

Cooling Central Air

Fireplace No

Heat Source Gas

Exterior

Exterior Feature Porch, Deck, Privacy, Year Round Living

Parking Features Private

Garage Spaces 6.0

Pool None

Waterfront Description Indirect,WaterfrontCommunity

View Panoramic, Water, Lake, Skyline, Beach

Roof Type Metal

Topography Flat,Dry

Lot Frontage 66.0

Lot Depth 132.0

Total Parking Spaces 8

Building

Foundation Concrete

Others

Security Features Smoke Detector,Carbon Monoxide Detectors

ParcelsYN No

Virtual Tour https://unbranded.youriguide.com/331_erie_st_port_stanley_on/

Listed by CENTURY 21 FIRST CANADIAN CORP

GET MORE INFORMATION

Contact Us

+1(905) 926-5554

marlene@boyleteam.ca