241 Ross Street St. Thomas, Ontario N5R 3Y5
$849,999
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. (id:38604)
Property Details
| MLS® Number | X13426966 |
| Property Type | Multi-family |
| Community Name | St. Thomas |
| Parking Space Total | 4 |
Building
| Bathroom Total | 3 |
| Bedrooms Above Ground | 8 |
| Bedrooms Total | 8 |
| Appliances | Water Heater |
| Cooling Type | Central Air Conditioning, Window Air Conditioner |
| Exterior Finish | Brick |
| Fireplace Present | Yes |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Stories Total | 2 |
| Size Interior | 2,500 - 3,000 Sqft |
| Type | Triplex |
| Utility Water | Municipal Water |
Parking
| Other | |
| Garage |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 55 Ft ,2 In |
| Size Frontage | 48 Ft ,2 In |
| Size Irregular | 48.2 X 55.2 Ft |
| Size Total Text | 48.2 X 55.2 Ft |
| Zoning Description | R3 |
https://www.realtor.ca/real-estate/29883772/241-ross-street-st-thomas-st-thomas
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Rami Rahy
Salesperson
(866) 530-7737
Juan Velez
Salesperson
(866) 530-7737
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June 10 2026 06:22:32
London and St. Thomas Association of REALTORS®
Exp Realty