$1,124,900
FOR SALE

Investment

Lot: 64.41 x 120 ftTotal Area: 4,326 ft2
2023 Taxes: $4,658.61

33 Station St
St. Thomas, ON N5P 2X1 | NW | Elgin

Welcome to 33 Station located in growing St. Thomas. This six-unit building offers an exceptional opportunity for savvy investors. Comprised of two three-bedroom units, two two-bedroom units, and two one-bedroom units. This property offers a 6.6% cap rate. Net operating income of $74,725.33, the building features seven hydro meters, one water meter, and one gas meter, ensuring efficient utility management. Recent updates include windows, kitchens, bathrooms, electrical, and plumbing. St. Thomas is experiencing a surge in development, making it a hotspot for investors. Major projects such as the new VW Battery Plant and the Amazon Facility are driving economic growth and attracting a robust workforce. The great tenant profile currently residing in the building offers stability, with room for rent increases, further increasing the propertys income potential. Additionally, theres potential for developing more units in the basement. This property offers a 6.6% cap rate. Interested parties are encouraged to inquire about competitive financing options available. Located in a thriving area with easy access to essential amenities, public transportation, schools, and parks. The combination of solid income, future development opportunities, and a prime location makes this property an excellent addition to any investment portfolio. Dont miss out on this fantastic opportunity.
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Listed By KELLER WILLIAMS LIFESTYLES
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number X9053887
Last Updated Sep 16, 2024
Property Summary
Property Type Investment

More like this:
Use Apartments - 6 to 12 Units
Category Apartment
PIN 351710195
Legal Description LT 17 PL 84 ST. THOMAS; PT LT 16 PL 84 ST. THOMAS AS IN E283199; ST. THOMAS
Occupancy Tenant
Taxes (2023) $4,658.61
Tax Type Annual
Assessment (2024) $280,000
Directions/Cross Streets STATION STREET & MEDA STREET
Neighbourhood NW
Area Elgin
Price History

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Detailed Information
Freestanding Y
Bathrooms 6
Lot 64.41 x 120 ft
Total Area 4,326 ft2
Approximate Age 100+
Air Conditioning N
Basement Y
Chattels Y
Garage Type None
Parking Spaces 6
LLBO N
Heat Type Gas Hot Water
Financial Statement Y
Gross Income/Sales $94,416
Net Income Before Debt $74,725
Hydro Expense $5,148
Heat Expenses $2,945
Insurance Expense $6,940
Taxes Expense $4,659
Expenses Actual/Estimated Act
Outside Storage Y
Area Influences Public Transit
Sewers Sanitary
Utilities Y
Water Municipal
Survey N
Lot/Bldg/Unit Code Building
Zoning R4
Seller Property Info Statement N

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