$1,249,000
Available - For Sale
Listing ID: X12225944
50 Fairview Aven , St. Thomas, N5R 4X6, Elgin
| 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: | $4991.00 |
| Tax Type: | Annual |
| Assessment Year: | 2024 |
| Occupancy: | Vacant |
| Address: | 50 Fairview Aven , St. Thomas, N5R 4X6, Elgin |
| Postal Code: | N5R 4X6 |
| Province/State: | Elgin |
| Directions/Cross Streets: | Talbot St |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | T |
| Total Area: | 0.61 |
| Total Area Code: | Acres |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Yes |
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| EXP REALTY |
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Saleem Akhtar
Sales Representative
Dir:
647-965-2957
Bus:
416-496-9220
Fax:
416-496-2144
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Elgin |
| Municipality: | St. Thomas |
| Neighbourhood: | St. Thomas |
| Tax: | $4,991 |
| Fireplace: | N |
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