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$1,249,000
Available - For Sale
Listing ID: X12225944
A fantastic opportunity to own a fully legal and vacant extensively upgraded 4-plex where you can set your own rent in the fast-growing city of St. Thomas. This building offers a desirable unit mix of one 4-bedroom unit, two 3-bedroom units, and one 2-bedroom unit. Nearly every major component has been updated over the past 10 years, including new kitchens, modernized electrical (100 amps per unit), full waterproofing (interior & exterior), refinished floors (2024), updated roof (50 year shingles) and windows, fresh paint (2024), three units have updated bathrooms and updated exterior doors on all units. Additional highlights include basement storage, in-unit laundry potential, owned water heaters (x4), municipal sewer connection, and the potential for a 5th unit in the basement. Situated on a large 0.61-acre lot with significant under-utilized land offering potential for future units, parking, or storage (concepts for up to 16 units supported by recent planning study; zoning amendment required). Ideally located minutes from parks, schools, shopping, and downtown amenities with quick access to London and Hwy 401. St. Thomas is an affordable, rapidly growing community with major new employers (Volkswagen EV plant, Amazon, Magna), a revitalized downtown core, and strong long-term rental demand an ideal turnkey investment with future upside.
Price $1,249,000
Taxes: $4,991
Tax Type: Annual
Assessment Year: 2024
Occupancy by: Vacant
Address: 50 Fairview Aven , St. Thomas, N5R 4X6, Elgin
Postal Code: N5R 4X6
Province/State: Elgin
Directions/Cross Streets: Talbot St
No. of Pieces Level
Washroom 1:  0
Washroom 2:  0
Washroom 3:  0
Washroom 4:  0
Washroom 5:  0
Category: Apartment
Use: Apts - 2 To 5 Units
Building Percentage: T
Total Area: .61
Total Area Code:  Acres
Maintenance: 0
Heat Type: Gas Forced Air Open
Central Air Conditioning: Yes
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EXP REALTY

50 Fairview Aven , St. Thomas, N5R 4X6, Elgin


 
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At a Glance:
Type: Com - Investment
Area: Elgin
Municipality: St. Thomas
Neighbourhood: St. Thomas
Style:
Lot Size: x 249.22(Feet)
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Tax: $4,991
Maintenance Fee: $0
Beds: 0
Baths: 0
Garage: 0
Fireplace: N
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