REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,149,000
Est. payment /mo
New
50 Fairview AVE St. Thomas, ON N5R 4X6
12 Beds
4 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision St. Thomas
MLS Listing ID X12331212
Style 2-Storey
Bedrooms 12
Annual Tax Amount $4,991
Tax Year 2024
Property Sub-Type Fourplex
Property Description
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.
Location
Province ON
County Elgin
Community St. Thomas
Area Elgin
Zoning R3-5
Rooms
Basement Full, Unfinished
Kitchen 4
Interior
Interior Features None
Cooling Central Air
Inclusions Fridge x2, Microwave x3, Stove x2
Exterior
Parking Features None
Pool None
Roof Type Asphalt Shingle
Road Frontage Municipal Road
Total Parking Spaces 10
Building
Foundation Poured Concrete
Lited by EXP REALTY