48.5 Mitchell Street St. Thomas, Ontario N5R 2T9
$799,900
Attention Investors! Turnkey 4-Plex with POSITIVE CASH FLOW! This fully rented income-generating 4-plex in fast-growing St. Thomas is an exceptional opportunity for investors seeking strong returns. With an annual rental income of $71,160 and a Net Operating Income of $61,385, this property is already producing positive cash flow and requires minimal maintenance.The building features three recently updated 2-bedroom units and one 1-bedroom unit, each offering modern finishes and upgrades. The main-floor 2-bedroom unit has been refreshed with an updated kitchen, featuring new cabinet doors, countertops, sink, and faucet, along with an updated laundry area. New vinyl flooring extends through the eat-in kitchen and hallway, while the living room and bedrooms boast hardwood floors. The bathroom has also been upgraded, adding to the units appeal.The basement 2-bedroom unit has been updated with new vinyl flooring throughout, new laundry machines, and a modernized kitchen and bathroom, ensuring a comfortable living space for tenants. The upper-level 2-bedroom unit has undergone a complete renovation, including a brand-new kitchen with new cabinets, countertops, tiled backsplash, sink, faucet, and appliances. The bathroom has been fully modernized with a new vanity, faucet, and tiled shower, while new vinyl flooring extends throughout the unit. The 1-bedroom unit remains well-maintained and continues to attract stable tenancy.With 4-car parking and a prime location within walking distance of shops, restaurants, cafes, parks, trails, and schools, this property offers both convenience and long-term investment stability. St. Thomas is experiencing rapid growth, making this the perfect time to invest in a high-demand rental market. Don't miss out on this turnkey investment opportunity.schedule your showing today! (id:47351)
Property Details
| MLS® Number | X11952100 |
| Property Type | Single Family |
| Community Name | St. Thomas |
| Features | Flat Site |
| Parking Space Total | 4 |
Building
| Bathroom Total | 4 |
| Bedrooms Above Ground | 5 |
| Bedrooms Below Ground | 2 |
| Bedrooms Total | 7 |
| Basement Development | Finished |
| Basement Type | N/a (finished) |
| Exterior Finish | Aluminum Siding, Brick |
| Foundation Type | Concrete |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Stories Total | 3 |
| Type | Fourplex |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 123 Ft ,3 In |
| Size Frontage | 33 Ft |
| Size Irregular | 33 X 123.29 Ft |
| Size Total Text | 33 X 123.29 Ft|under 1/2 Acre |
| Zoning Description | R1 |
https://www.realtor.ca/real-estate/27868864/485-mitchell-street-st-thomas-st-thomas
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February 06 2025 08:50:21
London and St. Thomas Association of REALTORS®
Sutton Group - Select Realty, Sutton Group Preferred Realty Inc.