48.5 Mitchell Street St. Thomas, Ontario N5R 2T9
7 Bedroom 4 Bathroom 2000 - 2500 sqft
Hot Water Radiator Heat
$779,900
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. ANNUAL RENT INCOME FLOW: $71,520 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. (id:53193)
Property Details
| MLS® Number | X12014307 |
| Property Type | Multi-family |
| Community Name | St. Thomas |
| Features | Flat Site |
| ParkingSpaceTotal | 4 |
Building
| BathroomTotal | 4 |
| BedroomsAboveGround | 5 |
| BedroomsBelowGround | 2 |
| BedroomsTotal | 7 |
| BasementDevelopment | Finished |
| BasementType | N/a (finished) |
| ExteriorFinish | Aluminum Siding, Brick |
| FoundationType | Concrete |
| HeatingFuel | Natural Gas |
| HeatingType | Hot Water Radiator Heat |
| StoriesTotal | 3 |
| SizeInterior | 2000 - 2500 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| SizeDepth | 123 Ft ,3 In |
| SizeFrontage | 33 Ft |
| SizeIrregular | 33 X 123.3 Ft |
| SizeTotalText | 33 X 123.3 Ft|under 1/2 Acre |
| ZoningDescription | R1 |
https://www.realtor.ca/real-estate/28012570/485-mitchell-street-st-thomas-st-thomas
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Christina Jones
Salesperson
Sutton Group - Select Realty
Dan Grantham
Salesperson
Sutton Group - Select Realty
Anne-Marie Grantham
Salesperson
Sutton Group - Select Realty
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April 29 2025 02:50:52
London and St. Thomas Association of REALTORS®
Sutton Group - Select Realty