For Sale: 241 Ross Street, St. Thomas, ON - REW
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$849,999
8 bd • ba • 2929 sf • Multifamily
241 Ross Street
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$849,999
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241 Ross StreetSt. Thomas, ON, N5R 3Y5

  • 8 Bed
  • Bath
  • 2929 Sqft
  • Multifamily

About this home

Exceptional 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:63626)
Listed by: Rami Rahy, Salesperson, EXP REALTY

Home facts and features

Price details
List Price
$849,999
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Gross Taxes for 2026
$3,211
Home facts
Bedrooms
8
Full Bathrooms
Parking Spaces
5
Property Type
Multifamily
Depth
55.2 feet
Frontage
48.2 feet
Heating Type
Forced air, Natural gas
Cooling
Fully air conditioned
Agent details
Primary Agent
Rami Rahy
Primary Broker
EXP REALTY
Secondary Agent
JUAN VELEZ
Secondary Broker
EXP REALTY
Listing details
Days on REW
106 Days
Property Views
15
MLS® Number
X12805024
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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25 Years
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Property Insights

Pierre Elliott Trudeau French Immersion Public School
  • Public
  • K - 8
Arthur Voaden Secondary School
  • Public
  • 9 - 12
Central Elgin Collegiate Institute
  • Public
  • 9 - 12
Forest Park Public School
  • Public
  • JK - 8
Elgin Court Public School
  • Public
  • JK - 8
St. Anne's School
  • Catholic
  • JK - 8
John Wise Public School
  • Public
  • JK - 8
Parkside Collegiate Institute
  • Public
  • 9 - 12
June Rose Callwood Public School
  • Public
  • JK - 8
Monsignor Morrison School
  • Catholic
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Rami Rahy
Phone:
519-636-7996
Office:
866-530-7737
Salesperson
JUAN VELEZ
Office:
866-530-7737
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.