40 BARNES STREET, St. Thomas, Ontario N5R 2V5
$599,900.00
- 5 bedrooms
- 3 bathrooms
INVESTMENT OPPORTUNITY AWAITS - This turnkey Duplex with a legal basement apartment is located on a large 70' wide lot on a quiet street in the heart of St Thomas and close to all amenities. MAIN FLOOR UNIT - Accessed through the side door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included, and 4 Piece Bath - Currently vacant but lease potential of $1,800 per month Plus 1/2 Hydro. UPPER UNIT - Accessed through the front door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included and a 3 piece Bath - Currently leased at $1,550 per month on a month - month basis plus hydro. ... read more
INVESTMENT OPPORTUNITY AWAITS - This turnkey Duplex with a legal basement apartment is located on a large 70' wide lot on a quiet street in the heart of St Thomas and close to all amenities. MAIN FLOOR UNIT - Accessed through the side door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included, and 4 Piece Bath - Currently vacant but lease potential of $1,800 per month Plus 1/2 Hydro. UPPER UNIT - Accessed through the front door, this unit features 2 Bedrooms, Livingroom, Kitchen with Refrigerator and Stove included and a 3 piece Bath - Currently leased at $1,550 per month on a month - month basis plus hydro. BASEMENT UNIT - Access is through the rear door and features 1 Bedroom with a fire coded egress window, Livingroom, Kitchen with Refrigerator and Stove included, and a 3 Piece Bath - Currently vacant but lease potential of $1,200 per month + 1/2 hydro. UTILITIES - Landlord pays for Enbridge gas heat and common hydro usage, 3 electrical meters - one for upper, one for main and basement and 1 for common area and the 3 Hot water tanks are owned. OUTSIDE - The double wide paved drive is large enough to handle 3-4 vehicles with access to the Garage for storage of lawn equipment. LAUNDRY - A condensing Washer and Dryer unit is located in each unit for use by the tenants. SAFETY - Smoke and CO Detectors on all 3 levels are linked to provide added safety. INCOME AND EXPENSES - Based on 2025 costs - Insurance $2,787.92, Enbridge Gas $1,079.36, Property Taxes $2,738.00, Entegrus hydro/water/sewer $1,152 offering a 6.5% CAP Rate. ADDITIONAL RESIDENTIAL UNITS - Explore adding Additional Residential Units in the rear / side yard or possibly severing the side yard to increase the investment potential of this property. NEXT STEPS - With the explosive growth happening in St Thomas, don't wait to schedule an appointment today to checkout your next invest opportunity (id:25417)
- Listing ID: X13536296
- Property Type: Multi-family
| Property | |
|---|---|
| Lot Size: | 70.8 by 101.3 FT |
| Parking: | Detached Garage 5 Spaces |
| Building | |
|---|---|
| Type: | Multi-family Duplex |
| Appliances: | Dryer, Washer, Water Meter and Water Heater |
| HVAC: | Fireplace and Forced Air Natural Gas |
| Exterior: | Vinyl Siding |
| Basement: | Full |
| Utilities: | Cable and Sanitary Sewer |
| Location | |
|---|---|
| City: | St. Thomas |
| Province: | Ontario |
| Rooms | Level | Dimensions |
|---|---|---|
| Living room | Second level | 3.46 m x 4.45 m |
| Kitchen | Second level | 3.67 m x 2.18 m |
| Bedroom | Second level | 2.1 m x 3.5 m |
| Bedroom | Second level | 1.93 m x 2.31 m |
| Bathroom | Second level | 1.5 m x 2 m |
| Living room | Basement | 5.22 m x 2.82 m |
| Kitchen | Basement | 5.22 m x 2.82 m |
| Bedroom | Basement | 3.83 m x 2.83 m |
| Laundry room | Basement | 4.07 m x 2.58 m |
| Bathroom | Basement | 4.45 m x 2.43 m |
| Living room | Main level | 3.46 m x 4.45 m |
| Kitchen | Main level | 4.09 m x 3.27 m |
| Bedroom | Main level | 3.83 m x 3.8 m |
| Bedroom | Main level | 3.67 m x 2.18 m |
| Bathroom | Main level | 2.31 m x 1.93 m |
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