Property Information:

An exceptional opportunity to acquire a solid, income-producing legal fourplex offering both stability and upside potential. Three of the four units are occupied by long-term tenants, providing consistent rental income and low turnover. The remaining 2 bedroom unit has been newly updated and is currently vacant-ideal for an owner-occupant or the seller will guarantee market rent of approximately $1,600 until the end of September while the new owner finds a tenant to occupy the unit. The property features four separate hydro metres, a brand new boiler installed in 2024, and is in a great central location close to schools, shopping, and all of your amenities. The potential yearly rental income with the property fully tenanted is just under $40,000 with an NOI of just under $30,00 and boasts a potential cap rate of 6.76%. Don't miss out on this excellent investment opportunity in the heart of St. Thomas. Book you private showing today! (id:27)

Building Features:

Style: Multiplex
Building Type: Fourplex
Amenities: Separate Hydro Meters
Basement Development: Unfinished
Basement Type: N/A
Exterior Finish: Brick
Floor Space: 2500 - 3000 sqft
Foundation Type: Block
Heating Type: Baseboard heaters, Radiant heat
Heating Fuel: Other
Cooling Type: None
Appliances: Stove, Refrigerator

Property Features:

Property Type: Multi-family
Bedrooms: 5
Bathrooms: 4
Amenities Nearby: Public Transit, Schools, Park
Floor Space (approx): 2500 - 3000 Square Feet
Irregular: Yes
Lot Depth: 68.7 Feet
Lot Frontage: 53.2 Feet
Lot Size: 53.3 x 68.7 FT
Structure Type: Porch
Zoning: R3
Sewer: Sanitary sewer
Parking Type: No Garage
No. of Parking Spaces: 2

Courtesy of: ELGIN REALTY LIMITED

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Demographic Information of 35-37 KAINS STREET, St. Thomas, Ontario, N5P 1N1

Life Stage

Midlife Families

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$83,415.07

Average Number of Children

1.60

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.43 %

High school certificate or equivalent

39.45 %

Apprenticeship trade certificate/diploma

6.8 %

College/non-university certificate

25.24 %

University certificate (below bachelor)

0.51 %

University Degree

3.57 %

Commuter

Travel To Work

By Car

84.87 %

By Public Transit

0.0 %

By Walking

10.27 %

By Bicycle

0.0 %

By Other Methods

4.86 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

15.57 %

Houses

84.43 %

35-37 KAINS STREET, St. Thomas, Ontario, N5P 1N1