For Sale: 56 Leger Avenue, St. Thomas, ON - REW
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$609,900
5 bd • 2 ba • 700 - 1099 sf • Multifamily
56 Leger Avenue
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$609,900
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56 Leger AvenueSt. Thomas, ON, N5R 5P7

  • 5 Bed
  • 2 Bath
  • 700 - 1099 Sqft
  • Multifamily

About this home

A prime opportunity to own a turnkey, cash-flowing duplex on the south edge of St. Thomas - fully renovated, professionally positioned, and generating immediate income from day one. Configured as a 3-bedroom upper unit and a 2-bedroom lower unit, both units have been completely updated in 2024, delivering a true "plug-and-play" investment. Interior improvements include brand new kitchens with quartz countertops, updated cabinetry, subway tile backsplashes, refreshed bathrooms, new flooring throughout, and in-suite laundry in both units - a level of finish that not only attracts quality tenants, but helps support long-term rent stability. From a numbers standpoint, the property is currently producing $3,790/month in gross rental income, with a clear path to $3,990/month based on achievable market rents. After accounting for approximately $1,044/month in operating expenses, this results in a net operating income of ~$2,745/month ($32,951 annually) on current rents, and ~$2,945/month ($35,351 annually) at market rents. At the current list price, this translates to a 5.9% cap rate based on actual income, with the ability to push into the 6.3% range as rents are optimized - offering both immediate return and built-in upside. Operationally, the property is well thought out. Each unit benefits from its own dedicated heating and cooling system, helping reduce tenant overlap and simplifying expense management - with the upper unit serviced by a forced air furnace and central A/C, and the lower unit equipped with heat pumps (with integrated AC) and baseboard as backup. Combined with separate hydro meters and parking for up to 5 vehicles, this is a low-friction asset from a management standpoint. Location plays a key role here as well. Positioned on the south edge of St. Thomas, tenants have access to a wide range of schools, parks, walking trails, and everyday amenities - a consistently desirable area that supports tenant demand and long-term occupancy. (id:63626)
Listed by: JUSTIN KONIKOW, Salesperson, PRIME REAL ESTATE BROKERAGE

Home facts and features

Price details
List Price
$609,900
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Gross Taxes for 2025
$3,668
Home facts
Bedrooms
5
Full Bathrooms
2
Parking Spaces
5
Parking Details
No Garage
Property Type
Multifamily
Depth
100 feet
Frontage
50.6 feet
Exterior Finish
Brick, Vinyl siding
Heating Type
Heat Pump, Baseboard heaters, Forced air, Electric, Natural gas
Cooling
Central air conditioning, Wall unit
Basement Details
Finished, Full
Appliances
Dryer, Refrigerator, Stove, Washer
Agent details
Primary Agent
JUSTIN KONIKOW
Primary Broker
PRIME REAL ESTATE BROKERAGE
Secondary Agent
NATHAN SMITH
Secondary Broker
PRIME REAL ESTATE BROKERAGE
Listing details
Days on REW
49 Days
MLS® Number
X13076554
Source
Canadian Real Estate Association
Board
London and St. Thomas Association of REALTORS®
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Property Insights

St Joseph's High School
  • Catholic
  • 9 - 12
Mitchell Hepburn Public School
  • Public
  • JK - 8
Elgin Court Public School
  • Public
  • JK - 8
St. Anne's School
  • Catholic
  • JK - 8
Central Elgin Collegiate Institute
  • Public
  • 9 - 12
Pierre Elliott Trudeau French Immersion Public School
  • Public
  • K - 8
Forest Park Public School
  • Public
  • JK - 8
Parkside Collegiate Institute
  • Public
  • 9 - 12
John Wise Public School
  • Public
  • JK - 8
Arthur Voaden Secondary School
  • Public
  • 9 - 12
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
Salesperson
JUSTIN KONIKOW
Phone:
519-860-6547
Cell:
519-473-9992
Office:
519-473-9992
Salesperson
NATHAN SMITH
Phone:
(519) 200-7980
Cell:
519-200-7980
Office:
519-473-9992
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