$849,999
FOR SALE

Investment

Lot: 48.19 x 55.2 ft
2025 Taxes: $3,211

241 ROSS St
St. Thomas, ON N5R 3Y5 | Elgin

Exceptional Turn-Key Triplex in St. Thomas! 241 Ross St offers an outstanding cashflow opportunity, featuring a fully renovated three-unit property situated in a desirable and well-established neighbourhood. The property is fully leased with quality tenants and offers separately metered units. Each unit showcases bright, updated interiors with high ceilings, and the property includes parking for up to four vehicles. This is a clean, low-maintenance asset delivering immediate and stable cash flow, with the added flexibility for an owner to occupy one of the units if desired. Importantly, the property achieves a TRUE 7% CAP RATE, calculated conservatively and inclusive of maintenance, professional property management, and vacancy allowance, offering investors a realistic and properly underwritten return, with additional upside potential for a self-managed buyer who can retain the management costs. There is also the opportunity for an owner-occupant to move into one of the units while generating cash flow from the remaining suites, making it an attractive option for both investors and those looking to offset their housing costs. Additionally, there is potential to create a fourth unit in the basement (subject to required zoning approvals and permits), presenting approximately $100K profit potential and further enhancing the overall upside of the investment. Buyer to complete their own due diligence regarding zoning, approvals, feasibility, and financial projections.
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Listed By EXP REALTY
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X12805024
Last Updated Feb 23, 2026
Property Summary
Property Type Investment

More like this:
Use Apts - 2 To 5 Units
PIN 352190022
Legal Description PT LT 88 PL 86 YARMOUTH AS IN STH70653 S/T & T/W STH70653; ST. THOMAS
Taxes (2025) $3,211
Directions/Cross Streets Ross St and Wellington St
Neighbourhood St. Thomas
Area Elgin
Price History

Interested in obtaining the full price history for this property?
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Detailed Information
Freestanding Y
Bedrooms 8
Lot 48.19 x 55.2 ft
Air Conditioning Yes
Basement Basement
Garage Type Other
Parking Spaces 5
Heat Type Gas Forced Air Closed

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