241 ROSS Street, St. Thomas, ON N5R 3Y5
St. Thomas, ON, N5R 3Y5 · St. Thomas
About this property
CASH FLOWING 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.
Features & Amenities
- Basement: Development Potential
- Garage: Other
- Cooling: Central Air, Window Unit(s)
- Heat Type: Forced Air
- Heat Source: Gas
- Style: 2-Storey
- Construction: Brick
- Sewer: Sewer
Property Details
| Property Type | Residential Freehold |
|---|---|
| Property Sub-Type | Triplex |
| Architectural Style | 2-Storey |
| Bedrooms | 8 |
| Bathrooms | 3 |
| Basement | Development Potential |
| Garage | Other |
| Parking Spaces | 3 |
| Heat Type | Forced Air |
| Heat Source | Gas |
| Cooling | Central Air, Window Unit(s) |
| Sewer | Sewer |
| Annual Tax | $3,211 |
| Tax Year | 2025 |
Interior Features
- Interior Features
- Water Heater
- Fireplace
- Yes
Exterior Features
- Pool Features
- None
Building & Construction
- Architectural Style
- 2-Storey
- Construction Materials
- Brick
- Foundation Details
- Concrete
- Roof
- Shingles, Flat
- Basement
- Development Potential
Heating & Cooling
- Heat Type
- Forced Air
- Heat Source
- Gas
- Cooling
- Central Air, Window Unit(s)
Parking & Garage
- Garage Type
- Other
- Garage
- Yes
- Parking Spaces
- 3
- Parking Total
- 4.00
- Covered Spaces
- 1
Lot & Land
- Lot Size Units
- Feet
- Lot Depth
- 55.20
- Lot Width
- 48.19
Financial & Tax
- Tax Annual Amount
- $3,211
- Tax Year
- 2025
- Possession Type
- Flexible
Utilities & Services
- Sewer
- Sewer
Room Details
- Rooms Above Grade
- 8
- Kitchens Above Grade
- 3
- Kitchens Total
- 3
- Bedrooms Above Grade
- 8
Additional Details
- Occupant Type
- Tenant
- Direction Faces
- West
- County Or Parish
- Elgin
- Cross Street
- Ross St and Wellington St
- Directions
- Coming from Locust St, turn right onto Ross St, building will be on the corner.
- Special Designation
- Unknown
- Showing Requirements
- Lockbox
Location
241 ROSS Street, St. Thomas, ON N5R 3Y5, St. Thomas, ON, N5R 3Y5