52 days on Market

48.5 Mitchell St, St. Thomas, Ontario N5R 2T9

$869,000
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Townhouse
-
4
~3013 sqft

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Highlights

Estimated ValueNot available

Price/Sqft$288/sqft

Est. Mortgage$3,732/mo

Tax Amount (2023)$2,757/yr

Days On Market52 days


Description

Located in the fast-growing St. Thomas, being fully rented with a 7.06% Cap Rate, this fourplex is within walking distance from multiple grocery stores; bank branches; a long list of local independent restaurants, cafes, bars, and bakeries; health and fitness options that will meet the needs of every demographic segment. Princess Ave Playhouse and St. Thomas-Elgin Public Art Centre are around the corner for art & entertainment. Elgin County Courthouse, City Hall, and St. and Thomas Public Library can all be reached on foot. Within 5-8 minutes BIKING DISTANCE, there are plenty of options for outdoor activities. Park and Recreational Facilities: V.A. Barrie Park with large open space, Athletic Park with soccer and other physical activities, and Pinafore Park for picnics, fishing, baseball, and splash pad & playground. National & Multi-national brands such as Walmart, Real Canadian Superstore, Staples, Canadian Tires, McDonald's, A&W, Popeye's, Starbucks, Swiss Chalet & Harvey's, Tim Hortons, Marble Slab Creamery are only a short drive away. This 4-plex features three(3) recently updated 2-bedroom units and one(1) 1-bedroom unit, with 4-car parking. Unit #1 main floor 2-bedroom unit features updated kitchen(cabinet door, countertop, sink & faucet), updated laundry facility, new vinyl floorings throughout eat-in kitchen and hallway, with hardwood flooring in living room and bedrooms, and updated bathroom. Unit #2 basement 2-bedroom unit has been updated with new vinyl floorings throughout, new laundry machines, and updated kitchen and bathroom. The overhauled Unit #3 upper level 2-bedroom unit has a new kitchen(cabinets, countertop, tiled backsplash, sink, faucet, & appliances), new bathroom with laundry(vanity, faucet, tiled shower), and new vinyl flooring throughout. This property currently is generating Rental Income of $71,160. After the Total Operating Expense of $9,782, the Net Operating Income is $61,385 annually.


Property Details

StyleResidential Income
View-
Age of property1900
SqFt~3013 SqFt
Lot Size4,270 SqFt(123 x 34.72)
Parking Spaces4
MLS ®Number40645245
Community NameSt. Thomas
Data SourceITSO

Features

Heating: Natural Gas, Radiant
Basement: Separate Entrance, Walk-Up Access, Full, Finished

Features

Lot size: 4,270 SqFt
Sewer (Municipal)

Parking

Garage spaces -

Garage type -

Total parking spaces 4


Property History

Now
ListedFor Salefor$869,000Active
51 days on market
Listing by trreb®
history photo preview40
Now
ListedFor Salefor$869,000Active
52 days on market
Listing by itso®
history photo preview45
Sep 11, 2024
ListedFor Salefor$899,900Terminated
Stayed 103 days on market
Listing by itso®
history photo preview48
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Property listed by SUTTON GROUP - FORWARD REALTY, Brokerage
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