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$ 799,900
Est. payment /mo
New
48.5 Mitchell ST St. Thomas, ON N5R 2T9
5 Beds
4 Baths
UPDATED:
02/03/2025 07:47 PM
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Subdivision St. Thomas
MLS Listing ID X11952100
Style 2 1/2 Storey
Bedrooms 5
Annual Tax Amount $2,828
Tax Year 2024
Property Description
Attention Investors! Turnkey 4-Plex with POSITIVE CASH FLOW! This fully rented income-generating 4-plex in fast-growing St. Thomas is an exceptional opportunity for investors seeking strong returns. With an annual rental income of $71,160 and a Net Operating Income of $61,385, this property is already producing positive cash flow and requires minimal maintenance.The building features three recently updated 2-bedroom units and one 1-bedroom unit, each offering modern finishes and upgrades. The main-floor 2-bedroom unit has been refreshed with an updated kitchen, featuring new cabinet doors, countertops, sink, and faucet, along with an updated laundry area. New vinyl flooring extends through the eat-in kitchen and hallway, while the living room and bedrooms boast hardwood floors. The bathroom has also been upgraded, adding to the units appeal.The basement 2-bedroom unit has been updated with new vinyl flooring throughout, new laundry machines, and a modernized kitchen and bathroom, ensuring a comfortable living space for tenants. The upper-level 2-bedroom unit has undergone a complete renovation, including a brand-new kitchen with new cabinets, countertops, tiled backsplash, sink, faucet, and appliances. The bathroom has been fully modernized with a new vanity, faucet, and tiled shower, while new vinyl flooring extends throughout the unit. The 1-bedroom unit remains well-maintained and continues to attract stable tenancy.With 4-car parking and a prime location within walking distance of shops, restaurants, cafes, parks, trails, and schools, this property offers both convenience and long-term investment stability. St. Thomas is experiencing rapid growth, making this the perfect time to invest in a high-demand rental market. Don't miss out on this turnkey investment opportunity.schedule your showing today!
Location
Province ON
County Elgin
Community St. Thomas
Area Elgin
Rooms
Family Room No
Basement Finished
Kitchen 4
Separate Den/Office 2
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Mutual
Garage Spaces 4.0
Pool None
Roof Type Shingles
Topography Flat
Lot Frontage 33.0
Lot Depth 123.29
Total Parking Spaces 4
Building
Foundation Concrete
Listed by SUTTON GROUP - SELECT REALTY
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